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

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    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

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Sales have rebounded in March after the year-end lull and seasonal Chinese New Year pullback.

    Near sell-out launches in March boost developer sales to 1,300 units after four slow months

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    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