Elon Musk's X Valuation Plummets Over 70% Since Twitter Takeover, Fidelity Reports
TL;DR Summary
Fidelity's securities filing reveals that the social media platform X, previously known as Twitter, has significantly dropped in value, now estimated to be 71.5% less than when Elon Musk bought it in October 2022. The platform has faced numerous controversies, including an advertising boycott from major companies like Disney, Apple, and Coca Cola, following Musk's endorsement of an antisemitic post. Despite an apology from Musk and the potential financial risks, he remains defiant against what he perceives as advertising blackmail.
Topics:business##advertisingboycott#business-and-finance#elonmusk#fidelityinvestments#stockvaluation#twitter
- Elon Musk's X worth 71.5% less than it was when he bought the platform in 2022, Fidelity says CBS News
- Fidelity fund again trims Elon Musk’s X valuation CNN
- Elon Musk’s X Worth 71.5% Less Than When He Bought Twitter, Says Fidelity Rolling Stone
- Value of X has fallen 71% since purchase by Musk and name change from Twitter The Guardian
- Fidelity's X Stake Fell 72% in Value Since Musk Buy Yahoo Finance
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