Elon Musk himself acknowledged that Twitter had lost half its value, it turns out that the reality would be worse. Fund manager Fidelity, a Twitter shareholder, says the company would weigh just a third of the $44 billion requested when it was sold in October 2022.
confusing reasons
This Fidelity valuation has been on the decline since the arrival of the billionaire at the helm of the social network (now led by Linda Yaccarino). Thus, the estimate of Fidelity continues to fall, according to the decisions of Elon Musk, details the US agency Bloomberg.
After the flight of advertisers, the implementation of the Twitter Blue subscription or the drastic reduction of the moderation teams, the platform is now valued at around 15,000 million dollars. But as Bloomberg points out, Fidelity’s reasons for lowering this assessment remain unclear.
Although Fidelity is one of the external investors that allowed Elon Musk to buy the company, the American giant is slowly recovering its investments, says Mashable. As of November 2022, the value of its stake has decreased by 56%. In February and May 2023, Fidelity twice withdrew two-thirds of its stake, estimated today at $6.55 million according to Axios.
Source: BFM TV
