Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.
The asset manager, which helped Musk acquire the social network formerly known as Twitter, now values its stake in X at approximately $4.19 million, based on newly released disclosures from Fidelity’s Blue Chip Growth Fund. The fund has reduced the value of its holding in X by a total of 78.7% as of August end.
Womp womp
This is why you shouldn’t put your money into human-managed mutual funds.
Humans make idiotic decisions like helping Musk buy Twitter.
Competitive failure race between trump and musk.
Keep going.
Sounds overpriced.
The fact that it hasn’t lost 100% of its value is news to me. Hopefully his government contracts get cancelled as well.
Wow, a loss of 79%. Space Karen should be so proud.
At that rate of wealth incineration he may be the Xer trump which makes me worried about future republican presidential canidates more.
Just be glad musk can’t run, seems enough people are oblivious to his idiocy
Somehow I’m not as confident they wouldn’t figure out a way to ignore just one more law
They really outdid themselves with that cover art :D
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