Twitter is worth only about one-third of what Elon Musk and 19 co-investors paid to acquire it last fall, according to a new disclosure by one of its investors. Fidelity, which helped back the $44 …
Fidelity Blue Chip Growth Fund’s stake in Twitter, which now exists under Musk’s X Holdings Corp, was valued at nearly $6.55 million as of April 28, compared with $7.8 million as of Jan…
Financial services company Fidelity has reduced the market value of its equity stake in Twitter for a third time, now putting it at $6.55 billion. That's down from the nearly $20 billion Fidelity valued its stake at in October.
By Brian Fung, CNN Washington (CNN) — A Fidelity fund has slashed its estimate of Twitter’s value amid ongoing chaos at the company, implying the social media platform may be worth only a third of its value compared to when Elon Musk acquired it in October.
Twitter, now X Holdings Corp., is a private company but a Fidelity investment fund cut the valuation of its holding, implying the company is worth 33% of Musk's purchase price.
A financial filing from Fidelity, which helped Elon Musk's investor group take over Twitter, reveals its valuation of Twitter is just one-third of the $44 billion it paid.
Fidelity Investments has reported that Twitter is now worth just one-third of the $44 billion that tech mogul Elon Musk paid for the social media giant about nine months ago. Fidelity holds a stake in Twitter after backing Musk's takeover.
Fidelity, which owns an equity stake in Twitter, previously slashed its valuation by more than 55% at the end of last year — about one month after Musk acquired the platform.
