Fidelity has cut its estimate of X's value by 79% since Musk's purchase | TechCrunch
techcrunch.com
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 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.

  • HubertManne@moist.catsweat.com
    0·
    2 months ago

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

      • HubertManne@moist.catsweat.com
        0·
        2 months ago

        You know I might be turned around on him. Yeah hes a piece of shit intent wise but we we need to actually look what someone has accomplished. Wealth disparity is one of of the biggest problems of modern time and here he has gone and evaporated over 35 billion from the high end. He might be the greatest hero of the common man in our time. /s

        • skulblaka@sh.itjust.works
          0·
          2 months ago

          This, but no /s. He’s evaporated $35 billion from Twitter and is convincing conservatives to buy electric vehicles. I might like him about as much as I’d like a tick on my nutsack, but he is accomplishing things that align with my goals.

        • vaultdweller013@sh.itjust.works
          0·
          2 months ago

          Pretty sure the states could refuse to have him on the ballot, which would fuck over his ability to do jack shit. Also never underestimate American xenophobia, the fact he is South African would probably be enough to get him deported if it went to say a jury.

          • Viking_Hippie@lemmy.world
            0·
            2 months ago

            Pretty sure the states could refuse to have him on the ballot

            Like Colorado tried to when Trump was convicted of massive fraud?

            If the cult latches onto Musk after Trump croaks, the corrupt SCOTUS majority isn’t going to let pesky details like the constitution get in his way either.

            the fact he is South African would probably be enough to get him deported

            He’s got triple citizenship, one of which being American making him much harder to deport.

            Personally I’d love for him to fulfill his dream of dying on Mars, except without his “but not on impact” caveat, as soon as possible.