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

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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

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