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The decline was the result of 11 consecutive quarters of same store sales decline. [ 49 ] In August 2014, 3G announced that it planned to acquire the Canadian restaurant and coffee shop chain Tim Hortons and merge it with Burger King with backing from Warren Buffett 's Berkshire Hathaway .
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On October 4, Musk announced his intention to purchase the company as he had agreed, for $44 billion, or $54.20 a share; [16] the agreement closed on October 27. By October, 2024, X was worth less than 80% of what it was acquired for, and its value in 2025 was estimated to be around $9 billion. The platform's ad revenue has declined significantly.
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