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.

  • HubertManne@moist.catsweat.com
    10·
    2 months ago

    At that rate of wealth incineration he may be the Xer trump which makes me worried about future republican presidential canidates more.

      • HubertManne@moist.catsweat.com
        11·
        2 months ago

        You know I might be turned around on him. Yeah hes a piece of shit intent wise but we we need to actually look what someone has accomplished. Wealth disparity is one of of the biggest problems of modern time and here he has gone and evaporated over 35 billion from the high end. He might be the greatest hero of the common man in our time. /s

        • skulblaka@sh.itjust.works
          1·
          2 months ago

          This, but no /s. He’s evaporated $35 billion from Twitter and is convincing conservatives to buy electric vehicles. I might like him about as much as I’d like a tick on my nutsack, but he is accomplishing things that align with my goals.