Twitter turning into X is set to kill billions in brand value

As the perception of Twitter’s brand has changed, advertisers have fled. — AFP

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 (July 23), 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 US$4bil (RM18.27bil) and US$20bil (RM91.33bil) in value, according to analysts and brand agencies.