Fidelity Investments, a company specializing in asset management and which has an active stake in Twitter, calculated that the value of Twitter lost 66% of the amount that Elon Musk paid to buy the social network.
After the acquisition of Elon Musk to Twitter for US $ 44 billion, the current value of the company was finally known. Private estimates indicate that the social network is worth 66% less than in the pre-Musk era.
A Bloomberg report revealed that Fidelity Investments calculated the value of Twitter and He lowered his estimate by 66% less than the amount Elon Musk had bought the social network for.
It should be noted that Fidelity reduced the value of its participation in Twitter in November of 2022, when there was already a drop to 44% of the purchase price.
One of the causes of the price collapse was that Twitter proved to be in severe financial trouble since Elon Musk took control of the platform.
Advertising revenue fell 50% since Tesla CEO bought itin addition to the fact that subscriptions with Twitter Blue showed that only 1% would have agreed to pay.
Source: Ambito
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