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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, 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.

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"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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This is an automated archive made by the Lemmit Bot.

The original was posted on /r/worldnews by /u/asteriskspace on 2024-09-30 07:48:42+00:00.

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submitted 2 weeks ago* (last edited 2 weeks ago) by BrikoX@lemmy.zip to c/technology@lemmy.zip
 
 

Elon Musk’s X is now valued at less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.

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