Twitter Is Worth One Third of What Investors Paid
Going from $44 billion USD to $15 billion USD.
Twitter is losing value as a report alleges that it is only worth one-third of what Elon Musk and his 19 other co-investors paid to acquire the social media platform.
Fidelity recently shared the mark down of its investment in a portfolio valuations — the company initially assisted Elon Musk in a $44 billion USD takeover, which is now valued at around $15 billion USD. Investors aren’t the only ones seeing the writing on the wall as Musk admitted that Twitter was only worth $20 billion USD in March of this year. Following Musk’s integration into the company, nearly seven thousand employees have been laid off, whereas the company hopes to increase profit from paid verification subscriptions.
While former NBCUniversal figure Linda Yaccarino has stepped in as CEO, Musk remains involved with Twitter.
