Fidelity has cut its estimate of X's value by 79% since Musk's purchase | TechCrunch
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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, Elon Musk's X is now valued at less than a quarter of its $44 billion purchase price, according to Fidelity.

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.

  • zabadoh@ani.social
    1·
    5 hours ago

    It’s not like the S&P500 committee is going to make wild and crazy decisions based on a hunch. It’s still very much based on replacing older shrinking companies with newer more vigorous representatives in the same industry.

    • Jakeroxs@sh.itjust.works
      1·
      4 hours ago

      Still, it’s not just mathematics, humans are making decisions on what companies to add or remove from the indices in a majority of cases.