Elon Musk’s X is worth nearly 80% less than when he bought it, Fidelity estimates
The social media platform formerly known as Twitter is worth almost 80% less than two years ago when Elon Musk bought it, according to estimates from investment giant Fidelity.
Elon Musk’s X Worth 79% Less Than When He Bought It
Elon Musk's X is worth nearly 80% less than what he paid for the social platform, formally known as Twitter, when he bought it two years ago
Twitter Has Lost 80% of Its Value Since Elon Musk Renamed It X: Report
CNN reported the new estimate indicated a 79% decline from what shares were worth when Musk took over compared to today. That means X might be worth $9.4 billion. "Musk clearly overpaid for this asset," Dan Ives, managing director and senior equity analyst at Wedbush Securities, told CNN in an email.
Down 80%: Fidelity says X has plummeted in value since Elon Musk's takeover - reports
According to investment giant Fidelity, estimates of its shares in X have become 80% less valuable since Elon Musk took over.
X's value fell drastically since Elon Musk bought it, Fidelity estimates
Texas is now home to a company that isn't valued anywhere close to what it was during its California heyday. Elon Musk's X has seen its value drop dramatically from when he purchased it for $44 billion in 2022.
X is now worth less than 25% of what Elon Musk paid for it
And by Fidelity’s calculations, the site is now worth less than 25% of the $44 billion Musk paid for it. When Musk bought Twitter, Fidelity invested $19.66 million. As of the end of July, it says, those shares were worth just $5.
X has lost 75% of its value since Elon Musk took over
A disclosure from an investment company with equity in the company indicates that X's value has significantly declined since 2022.
El X de Elon Musk vale casi un 80% menos que cuando lo compró, según estimaciones de Fidelity
Julia Hernández (CNN) —  La plataforma de medios sociales antes conocida como Twitter vale casi 80% menos que hace dos años cuando Elon Musk la compró, según estimaciones del gigante de inversiones Fi
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