Financial Repercussions for Tesla
The ongoing discord between billionaire entrepreneur Elon Musk and U.S. President Donald Trump has had significant financial ramifications for Tesla, leading to an estimated $150 billion loss in market value for the electric vehicle giant. Interestingly, this strained relationship has simultaneously fostered a positive outlook for another of Musk’s ventures.
Growth in Popularity for X Platform
Formerly known as Twitter, the social media platform X has experienced a surge in popularity among Apple and Android users in the United States, notably since June 5. This shift is largely attributed to those uneasy with the Musk-Trump rapprochement, who began transitioning away from the platform earlier in the year.
According to data from Sensor Tower, as of June 5, X climbed to the 23rd position in the overall rankings of the U.S. App Store, a significant improvement from its previous 68th place. Its average ranking over the last six months hovered around 58.
A similar trend was observed on Google Play, where X’s ranking improved by approximately 20 places compared to the previous week’s average and 16 places compared to the last 30-day average.
54% Increase in User Engagement
Sensor Tower’s estimates indicate that the number of active users of X’s mobile app in the U.S. rose by 6% on June 5. This uptick is believed to be driven by the widespread attention garnered by the Musk-Trump conflict on social media platforms.
Notably, between 2 PM and 6 PM local time on the same day, X’s active user count in the U.S. surged by 54% compared to the previous week’s figures.
Effects on Trump’s Truth Social
The tension also resonated on Truth Social, the platform owned by Trump. His posts addressing Musk on this platform led to a substantial spike in user traffic.
Data from Sensor Tower reveals that Truth Social’s mobile app active user base in the U.S. increased by over 400% compared to the last seven days. Nevertheless, Sensor Tower highlights that X continues to have approximately 100 times more mobile users than Truth Social in the U.S. Nonetheless, user numbers on both platforms peaked to a 90-day high between 2:00 PM and 6:00 PM on June 5.
News
