US EditionElon Musk’s X is worth nearly 80% less than when he bought it, Fidelity estimates
- Fidelity estimates that Elon Musk's X, formerly known as Twitter, is worth nearly 80% less than the $44 billion paid in 2022, valuing it at $9.4 billion.
- Fidelity has lowered its stake in X by 78.7%, reflecting concerns over declining ad revenue as companies stop spending to avoid controversial content.
- Analysts suggest this diminished value is due to X's lack of public financial metrics, impacting its perceived overall health.
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Fidelity Slashes Valuation of X/Twitter by 79% Since Elon Musk's Acquisition
Investment giant Fidelity has marked down the value of its stake in Elon Musk's X, formerly known as Twitter, by a staggering 78.7 percent as of the end of August, implying an overall valuation of just $9.4 billion for the social media platform that Musk purchased for $44 billion after attempting to back out of the deal.
·United States
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X now worth less than 1/4th of what Elon Musk paid for it, analysts believe it to be worth less than $10bn
When Musk acquired Twitter for a whopping $44 billion, Fidelity invested $19.66 million in the company. However, as of July 2024, Fidelity’s shares in X are now valued at just $5.5 million, putting the entire platform’s worth at a modest $9.4 billion
·Mumbai, India
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Leaning Left4Leaning Right3Center9Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 25%
C 56%
R 19%
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