“Twitter is now worth one-third of what Musk paid for it,” writes the Wall Street Journal, citing a valuation from asset management giant Fidelity.
Fidelity has slashed the value of the social network, which Elon Musk paid $44 billion for last year, to about $15 billion.
It is noted that Fidelity, through the Fidelity Blue Chip Growth Fund, owns a stake in Twitter, however, the value of which, however, fell from $19.7 million in October last year to $6.6 million at the end of April.
Source: WSJ
Source: Kathimerini
Anna White is a journalist at 247 News Reel, where she writes on world news and current events. She is known for her insightful analysis and compelling storytelling. Anna’s articles have been widely read and shared, earning her a reputation as a talented and respected journalist. She delivers in-depth and accurate understanding of the world’s most pressing issues.