Twitter is now worth just 33% of Elon Musk’s purchase price
Twitter's value has been marked down to one-third of what Elon Musk paid, as reported by Fidelity.
Musk admitted to overpaying for Twitter, purchasing it for $44 billion, including $33.5 billion in equity.
Recently, Musk stated that Twitter is worth less than half of his initial investment.
Fidelity lowered the value of its Twitter stake multiple times, with the latest reduction in November to 44% of the purchase price.
Since Musk's takeover, Twitter has faced financial struggles, with advertising revenue declining by 50% due to debt and content moderation challenges.
Attempts to recoup revenue through Twitter Blue subscriptions have been unsuccessful, with less than 1% of monthly users signing up.
Musk's investment in Twitter is now valued at $8.8 billion, resulting in a reduction of approximately $850 million from his fortune.
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