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.

  • nkat2112English
    452·
    3 months ago

    Wow, a loss of 79%. Space Karen should be so proud.

    • HootinNHollerin@lemmy.world
      1·
      3 months ago

      I’m convinced space Karen hasn’t gone up in one of his rockets like the other billionaires because the memes calling for it to explode would be so pervasive he’d have to admit to himself that he is truly hated