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Twitter Is Now Worth Just 33% of Elon Musk’s Purchase Price, Fidelity Says
Twitter is now worth just one-third of what Elon Musk paid for the social-media platform, according to Fidelity, which recently marked down the value of its stake in the company. Musk, who has acknowledged he overpaid for Twitter, offered employees new equity grants earlier this year that valued the company at $20 billion. It’s unclear how Fidelity arrived at its new valuation or whether it receives any non-public information from the company. Fidelity first reduced the value of its Twitter stake in November, to 44% of the purchase price. That was followed by further markdowns in December and February. Twitter has ... (full story)