Social media platform has struggled since the billionaire’s $44bn acquisition in October 2022
Twitter is now worth just one-third of what Elon Musk paid for the social media platform, according to Fidelity, which recently marked down the value of its equity stake in the company.
Musk has acknowledged he overpaid for Twitter, which he bought for $44bn in October 2022, including $33.5bn in equity. More recently, he said Twitter is worth less than half what he paid for it. It’s unclear how Fidelity arrived at its valuation or whether it receives any non-public information from the company...
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