Elon Musk’s Grandiose Media Ambitions Are Now a Real Threat to Some Major Players
According to internal financials disclosed in connection with an IPO, X’s advertising revenue fell from $4.0+ billion in 2021 to $2.3 billion in 2023 and $1.73 billion in 2024, but rose to $1.84 billion in 2025. X also reported 6.3 million active paid subscribers. SpaceX’s S-1 filed for an IPO, highlighting Starlink’s growth (10.3 million internet subscribers; nearly $1.2 billion Q1 income) and plans that could affect telecom and ad markets.