Investor Says X’s Value Is Down 79% Since Musk’s Buy

TechCrunch reports:

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. his 78.7% markdown implies that Fidelity is currently valuing X at about $9.4 billion overall. (TechCrunch’s assessment assumes that Fidelity’s investment in X was made at a $44 billion valuation. The acquisition was financed through a combination of equity and debt.) Fidelity declined to comment. X didn’t respond to a request for comment.

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Fidelity has cut its estimate of X’s value by 79% since Musk’s purchase
(It’s now only worth ~$10 Billion)https://t.co/r83WWOztuM

— Anonymous (@YourAnonNews) September 30, 2024