↪ https://finance.yahoo.com .. 185709652.html


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 $44 billion, including $33.5 billion 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 new, lower valuation or whether it receives any non-public information from the company.

Fidelity first reduced the value of its Twitter stake in November, to 44% of the purchase price. That was followed by further markdowns in December and February

Twitter has struggled financially since Musk took over

After saddling the company with $13 billion of debt, Musk’s erratic decision making and challenges with content moderation led advertising revenue to decline by 50%, Musk said in March


An attempt to recoup that revenue by selling Twitter Blue subscriptions has so far failed to take off. At the end of March, less than 1% of Twitter’s monthly users had signed up.

Twitter didn’t specifically respond to a request for comment

Musk’s investment in Twitter is now worth $8.8 billion, according to the Bloomberg Billionaires Index, which uses Fidelity’s valuation to calculate the value of his holding.

Musk spent more than $25 billion to acquire an estimated 79% stake in the company last year.

The latest markdown erases about $850 million from Musk’s $187 billion fortune, according to the index. Despite Twitter’s issues, Musk’s wealth is up more than $48 billion this year, largely due to a 63% surge in Tesla Inc.’s share price

Wealthy people are just naturally better than all of us. Otherwise, how could they have accumulated so much more wealth than us "normal" people?

So keep faith. Brother Elon will turn Twitter into a trillion dollar company.

If he didn't go woke, why is it that Twitter is going broke?

He doesn’t give a sh1t. He ended cancel culture and he deserves a fu#king Nobel peace prize for that

It was never worth what he paid for it in the first place so as soon as the sale went through he technically lost money.
Twitter was already failing when he took it over too. Obviously he's trying to work the bugs out.
I personally think it was dumb to buy it but I ain't gonna count dude out, I bet in 2 or 3 years he will have turned it into something profitable.
Everyone just wants to jump on the Elon hate bandwagon right now and are hoping he fails at something

Listen to these losers,
“he’ll turn it around bro. Trust me”

I thought you nerds didn't care about twitter.

Yall care big time.

Tripsev said 🔗 He doesn’t give a sh1t. He ended cancel culture and he deserves a fu#king Nobel peace prize for that

Oh, is "cancel culture" over now?

Then I guess you idiots can finally shut the fu#k up about it

MAGA: the racist conspiracists version of "Woke".

Literally.

people want musk to fail so badly,its sad

Twitter is just his play thing, he doesn't give a sh1t if it goes down to 1 billion. Twitter is going to get merged with another platform, its not the end game. Elon will most likely end up buying Rumble to merge with Twitter

Tlatoani said 🔗 Wealthy people are just naturally better than all of us. Otherwise, how could they have accumulated so much more wealth than us "normal" people? So keep faith. Brother Elon will turn Twitter into a trillion dollar company.

I wonder if Elon would still be Elon if he were born a different shade in apartheid s.africa?

Swisha2k11 said 🔗 I wonder if Elon would still be Elon if he were born a different shade in apartheid s.africa?

A blaq afrikan man creating zip2 would of been dope.

the final nail in the coffin for twitter will be in the next month or so when meta releases their twitter competitor.

🔗

🔗

and users of that new app will be able to retain their instagram followers on the app too. instagram has 4x the user base of twitter and most people (especially celebrities and other big content creators) have a lot more followers on instagram than twitter.

meta has already ki1led several apps by basically copying them (or their most prominent features...like vine, snapchat, periscope, etc). and twitter is next. the decline will actually be even more accelerated than with the other apps too because people have actually been begging for an alternative since musk took over.

Musk destroying Twitter good for his long term business plans

A functional town square is not how you trick people into mining the sh1t out of American soil

Twitter is charging $42K per month for businesses to use the API lol Its insane. Nobody gonna pay for that sh1t.

Even the lower tier API aimed at smaller operations is $100 a month.

Even if you get twitter blue, you can't use the API. What a mess.

Tripsev said 🔗 He doesn’t give a sh1t. He ended cancel culture and he deserves a fu#king Nobel peace prize for that

He literally canceled kanye on twitter.

Tf you talking about

Honzou said 🔗 Listen to these losers, “he’ll turn it around bro. Trust me”

Why is it so hard to believe. If you did some inkling of research he has a multitude of plans for Twitter as the basis for his ai company. Twitter was a cluster fu#k he had to blow that sh1t up.

VIMAN said 🔗 Why is it so hard to believe. If you did some inkling of research he has a multitude of plans for Twitter as the basis for his ai company. Twitter was a cluster fu#k he had to blow that sh1t up.

He's billions in the hole and it's getting worse without any ideas to actually turn it around.

Tripsev said 🔗 He doesn’t give a sh1t. He ended cancel culture and he deserves a fu#king Nobel peace prize for that

so what about budlight and target? seems like cancel culture is still alive and kickin

Twitter’s culture is just terrible. Also Musk wants the framework for his “X” app.

I thought these lefties weirdos already left twitter

So why they care if twitter is doing bad or not

I don't care if Rumble or any right wing app are doing well or bad

These f@ggots are only mad coz they can't cancel ppl anymore

I said it would take 6 months for him to fu#k this up...


I think i was right

you mean people don’t want to pay for the privilege of creating content for a website when they were already doing that for free for a decade???

B-b-b-b-but Tony starks is a big brain business genius!