Comment on By Turning Twitter Into X, Elon Musk Risks Killing Billions in Brand Value

By Turning Twitter Into X, Elon Musk Risks Killing Billions in Brand Value

It’s rare for corporate brands to become so intertwined with everyday conversation that they become verbs. It’s rarer still for the owner of such a brand to announce plans to intentionally destroy it. On Sunday, in the middle of a quiet summer weekend, Elon Musk decreed that Twitter’s product name would be changed to “X,” and that he is getting rid of the bird logo and all the associated words, including “tweet.” Musk’s move wiped out anywhere between $4 billion and $20 billion in value, according to analysts and brand agencies. Read More: Elon Musk Rebranded Twitter as ‘X.’ Users Immediately Rejected the Change [time-brightcove not-tgx=”true”] “It took 15-plus years to earn that much equity worldwide, so losing Twitter as a brand name is a significant financial hit,” said Steve Susi, director of brand communication at Siegel & Gale. Musk, whose company has already declined significantly in value since he purchased it for $44 billion in October, announced the change on Saturday night.

 

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News