Fidelity marks down X valuation by 71.5%::Asset manager Fidelity has marked down its investment in Musk-owned X by 71.5% from the original valuation of shares. 

  • TropicalDingdong@lemmy.world
    link
    fedilink
    English
    arrow-up
    35
    arrow-down
    2
    ·
    10 months ago

    I mean this is just ridiculous. He bough twitter for twice what it was actually worth fmv. He’s since gutted it infrastructural and culturally.

    If it went public today under his leadership, there is no way it would be worth even 5% of its prior value.

      • kingthrillgore@lemmy.ml
        link
        fedilink
        English
        arrow-up
        12
        ·
        edit-2
        10 months ago

        And for 44 billion, so he basically got screwed out of a small fortune to ruin it for someone else. It would have been cheaper and as effective to distort the election to keep running it the way it was.

    • BearOfaTime@lemm.ee
      link
      fedilink
      English
      arrow-up
      7
      arrow-down
      2
      ·
      10 months ago

      Yep.

      By design. Which is a good thing for the rest of the world. Twitter has been a cesspool from the start.