The Business Times
business-time-50

Elon Musk’s X gets another valuation cut from Fidelity: Axios

google-preferred-sourceAdd BT as a preferred source
Published Mon, Jan 1, 2024 · 02:20 PM
    • Fidelity believes that X, owned by Elon Musk, is worth 71.5 per cent less than at the time of purchase, the report added.
    • Fidelity believes that X, owned by Elon Musk, is worth 71.5 per cent less than at the time of purchase, the report added. PHOTO: REUTERS

    FIDELITY Investments has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for US$44 billion when the company was known as Twitter, Axios reported on Sunday.

    Fidelity believes that X is worth 71.5 per cent less than at the time of purchase, the report added, citing a new disclosure that runs through the end of November 2023. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    XTwitterElon MuskFidelity Investments

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    Greater financial literacy and easier access to investing are driving this shift, with young adults becoming more deliberate about growing their wealth.

    Singapore banks court younger customers as more climb wealth ladder

    Taste Orchard was a five-storey concept store operated by Hao Mart at the OG Orchard Point building in Somerset.

    Lawsuit from ex-advisers adds to claims arising from Hao Mart’s lease of Taste Orchard

    Singapore’s seasonally adjusted net employment outlook is unchanged from the previous quarter but has declined compared with the same period last year.

    Singapore employers grow selective as nearly half plan to hold headcount steady in Q4: survey

    Canadian Prime Minister Mark Carney speaking at a press conference in Ottawa, on Aug 22, after trade talks with the US collapsed.

    Canada’s fight with the US has far bigger stakes than trade

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More