• @Rolando
    link
    224 days ago

    I love the way rollingstone refers to X/Twitter:

    X (formerly Twitter), the social media site Musk purchased for $44 billion in 2022. Recently, Musk shared that the company is now valued at just $19 billion, a $25 billion decline.

    • @danc4498
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      English
      44 days ago

      How does musk calculate that value?

      • @Rolando
        link
        134 days ago

        Dad says: “He JUMPS to the conclusion!”

      • @athairmor
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        3
        edit-2
        4 days ago

        I think that’s what Fidelity values it. Fidelity is one of the investors from whom Musk got the money to buy Twitter. They stated their investment lost 80% of its value.

        Edit: Correction, Fidelity valuation of their shares implies a X/Twitter valuation closer to $9 billion.