Fidelity Slashes Valuation of X/Twitter by 79% Since Elon Musk’s Acquisition
Investment giant Fidelity has marked down the value of its stake in Elon Musk’s X, formerly known as Twitter, by a staggering 78.7 percent as of the end of August, implying an overall valuation of just $9.4 billion for the social media platform that Musk purchased for $44 billion after attempting to back out of the deal.
TechCrunch reports that Fidelity has massively reduced its estimate of...