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.

  • @Snapz
    1•21 minutes ago

    Competitive failure race between trump and musk.

  • @[email protected]
    1•35 minutes ago

    This is why you shouldn’t put your money into human-managed mutual funds.

    Humans make idiotic decisions like helping Musk buy Twitter.

  • @Myxomatosis
    8•2 hours ago

    The fact that it hasn’t lost 100% of its value is news to me. Hopefully his government contracts get cancelled as well.

  • nkat2112English
    18•3 hours ago

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

  • HubertManne
    6•2 hours ago

    At that rate of wealth incineration he may be the Xer trump which makes me worried about future republican presidential canidates more.

  • macniel
    9•3 hours ago

    They really outdid themselves with that cover art :D