Mutual fund Fidelity, which owns stake in social media platform, marks down value of its shares in disclosure obtained by Axios

The social media platform X has lost 71% of its value since it was bought by Elon Musk, according to the mutual fund Fidelity.

Fidelity, which owns a stake in X Holdings, said in a disclosure obtained by Axios that it had marked down the value of its shares by 71.5% since Musk’s purchase.

Musk acquired Twitter for $44bn in October 2022 and renamed the platform X in July 2023. Fidelity’s estimate would place the value of X at about $12.5bn.

The number of monthly users of X dropped by 15% in the first year since Musk’s takeover amid concerns over a rise in hate speech on the platform.

  • Anarch157a@lemmy.world
    6·
    1 year ago

    I mean, what is your alternative definition of “worth” if it isn’t “What you can get for it”

    “Worth” and “Price” are different things. A meal that costs $20 has more worth than a box of dirt with a price sticker of $1 million.

    The $44 billion Muskolini paid was Twitter’s agreed price, not it’s worth.

    • Encrypt-Keeper@lemmy.worldEnglish
      1·
      1 year ago

      Not if somebody actually buys the box of dirt for $1 million. If the price sticker of $1 million doesn’t inherently assign it its value, then neither does the $20 price sticker on the meal.

      You could say what makes the meal worth $20 is the fact that somebody is willing to actually pay the $20, but then the box of dirt also has somebody willing to pay $1 million dollars for it.

      So if “worth” isn’t equal to the price tag, or what people are willing to pay for it, then what are you basing the worth on?