X (formerly Twitter), the social media site Musk purchased for $44 billion in 2022. Recently, Musk shared that the company is now valued at just $19 billion, a $25 billion decline.
I think that’s what Fidelity values it. Fidelity is one of the investors from whom Musk got the money to buy Twitter. They stated their investment lost 80% of its value.
Edit: Correction, Fidelity valuation of their shares implies a X/Twitter valuation closer to $9 billion.
I love the way rollingstone refers to X/Twitter:
How does musk calculate that value?
Dad says: “He JUMPS to the conclusion!”
We should buy him a mat
I’m guessing that’s how much realized losses he needs in order to pay no taxes.
I think that’s what Fidelity values it. Fidelity is one of the investors from whom Musk got the money to buy Twitter. They stated their investment lost 80% of its value.
Edit: Correction, Fidelity valuation of their shares implies a X/Twitter valuation closer to $9 billion.