Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.

By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).

  • roguetrick@kbin.social
    link
    fedilink
    arrow-up
    5
    ·
    edit-2
    10 months ago

    I don’t think you understood my comment. I was implying that they owned enough meta stock that sinking Twitter would be a net zero situation for them if meta picked up the slack by taking twitters market share. They actually own so much they might even make a profit.