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.

    • seaQueue@lemmy.world
      1·
      2 months ago

      I don’t think anything tops Trump bankrupting a casino. Twatter has always run at a loss Muskrat just accelerated that burn rate exponentially.

      • skulblaka
        2·
        2 months ago

        How about three casinos, two casino holding companies and a hotel?

        I’m pretty sure if you handed me all those I would be actually incapable of fucking them over as hard as Trump did. Like, even if I actively tried. He is such poison to everything that the buildings that print money with no effort just stopped printing money under his command.