Fidelity helped Elon Musk with his Twitter takeover, earning a stake in X that's become increasingly less valuable.

Fidelity’s Blue Chip Growth Fund cut the value of its position in X by 5.7% in February, implying a 73% decline in the former Twitter Inc. since Elon Musk bought the social-media company.

Fidelity, which gained a stake in X by helping Musk complete his $44 billion purchase in October 2022, valued the position at $5.28 million as of Feb. 29, according to a report posted Saturday listing the fund’s holdings. A month earlier, the value was $5.6 million.

  • Zier@fedia.io
    0·
    8 months ago

    So the claim is twitter is now worth 11 billion. LOL More like 11 million. Elon & trump sure know how to kill a business.