It's still worth a lot because most people are still on it, so another change of ownership could make it like it was before, i.e. appealing enough to advertisers to be about breakeven. I don't know how long that will continue to be the case if bluesky or something else gets some momentum and actually pulls people off.
That's not possible since Elon's leveraged buyout saddled the company with $13billion in debt. The only way out of that hole would be via bankruptcy.
I doubt the debt could be renegotiated without the creditors effectively taking control and requiring management changes. To put it another way, bankruptcy would wipe out out equity holders and their control over management.
>Musk’s investment in Twitter is now worth $8.8 billion, according to the Bloomberg Billionaires Index,
which uses Fidelity’s valuation to calculate the value of his holding.
New Owners when it hits 10% of purchase price?
What magnificent achievement in a ten year span has Fidelity performed like Microsoft's founding CEO sets attention focus on the valuing of Fidelity's estimate over Elon M's best guess? Prices go up and down. The more than by a half Twitter headcount bloat downsizing not many CEOs have the ability to pull off and not create insider industry enemies. Twitter could be worth $1T looking at the rate of change and improvement driven by customer feedback compared to a conventional IBM or Linux Redhat customer having Twitter's previous bloatsize and no well informed technical oversight at the highest layer in the organization capable of rocket engineering equivalent.