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.

  • HottieAutie@lemmy.dbzer0.com
    1·
    9 hours ago

    I saw a video online by an “ex” CIA agent saying that the way the US spies on its citizens isn’t through shady espionage like wire tapping and private investigators. The FBI merely goes to info corporations like Google, AT&T, Facebook, etc. and buys the user’s information. I think that was an underlying goal of Musk’s. He wanted the user info on people that were using Twitter for political purposes worldwide. The value of Twitter wasn’t just it’s monetary value, but the power that came with owning that information.