Fidelity has cut its estimate of X's value by 79% since Musk's purchase | TechCrunch
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Elon Musk's X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.  The asset manager, Elon Musk's X is now valued at less than a quarter of its $44 billion purchase price, according to Fidelity.

Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.

The asset manager, which helped Musk acquire the social network formerly known as Twitter, now values its stake in X at approximately $4.19 million, based on newly released disclosures from Fidelity’s Blue Chip Growth Fund. The fund has reduced the value of its holding in X by a total of 78.7% as of August end.

  • beebarfbadger@lemmy.world
    2·
    2 months ago

    I’m not certain that it was an explicit condition negotiated with Musk, but I’m sure his investors had full confidence in his ability to do it anyway :)