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X: Navigating decline and the fight to reclaim brand trust

Florina Cormack-Loyd
21 January 2025
Florina Cormack-Loyd,
Communications Director, North America,
Brand Finance Canada

Once a cornerstone of the global media landscape, X (formerly Twitter) continues to grapple with a sharp decline in brand value, now standing at USD498 million in 2025, down 26% from USD673 million in 2024. This marks a staggering 91% decline in brand value from its peak of USD5.7 billion in 2022, underscoring the tumultuous journey of the brand under Elon Musk’s ownership.

Since Musk’s takeover, X has faced challenges on multiple fronts, most notably a mass exodus of advertisers. Advertising revenue, which once contributed three-quarters of the platform's income, plummeted from over USD1 billion per quarter in 2022 to approximately USD600 million per quarter by 2023, according to Fortune. Over the past year, the situation has further deteriorated, as Musk's lawsuits against advertisers have created additional uncertainty, deterring potential partnerships, and further eroding brand trust.

X’s Brand Strength Index (BSI) score also remains low at 56.7 out of 100, a significant drop since its peak of 80.7 in January 2022, just before Musk purchased the company in April 2022. Since Musk’s takeover, Brand Finance data reveals X has declined across all key brand strength metrics. Most notably, between 2022 and 2025, awareness of the brand has dropped from 94% to 78%, while familiarity has fallen from 58% to 53%. X’s overall reputation has also taken a hit.

The platform now faces the monumental task of rebuilding trust, re-engaging advertisers, and redefining its value proposition in a fiercely competitive market. The next steps for X will determine whether it can reclaim its position as a global media leader or continue its slide into irrelevance.

Musk’s other ventures demonstrate mixed results. Tesla, once the crown jewel of Musk’s brand portfolio, has seen its brand value fall 26% to USD43 billion in 2025. SpaceX, however, has bucked the trend, achieving an 11% increase in brand value to USD3.8 billion. Meanwhile, Starlink has been valued for the first time this year, with a brand value of USD2.4 billion.

In parallel, Musk has climbed 13 places in Brand Finance’s 2025 Brand Guardianship Index to rank 6th globally. According to Brand Finance’s research, respondents acknowledge his leadership strengths, particularly his focus on sustainability and long-term value creation. However, he scores lower on attributes such as trustworthiness and caring for employees. Musk also holds the highest familiarity score among CEOs in the automotive sector.

About the Author

Florina Cormack-Loyd
Communications Director - North America
Brand Finance

As a communications and public relations specialist, Florina brings over 8 years of experience across the finance and consultancy sectors. Currently serving as the Communications Director for Brand Finance, North America, Florina is based in Vancouver and oversees all communication, public relations, and marketing efforts for the North American region.

Florina joined Brand Finance in early 2019 as a member of the central communications team in London. In this role, she was responsible for disseminating the annual Brand Finance PR campaign, while also contributing to other studies, including the Soft Power report and Marketing Restrictions report.

Prior to her tenure at Brand Finance, Florina accumulated valuable experience in the banking and recruitment sectors. She graduated from Newcastle University in 2014 with a BA (Hons) degree in Politics.

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