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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)

submitted 1 month ago by GeneralInterest@lemmy.world to c/technology@lemmy.world

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"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] EnderMB@lemmy.world 14 points 1 month ago (1 children)

At least the MySpace guy was able to run a fun site, cash out before social media became crazy, and spend the rest of his life having fun with that money.

Trump will lose, and Musk will be holding on to a useless site that serves nothing. He'll probably sell for a fraction of what he paid (not that it was his money in the first place), but by that point it'll be too late. Twitter will be long dead.

[–] Kalysta@lemm.ee 4 points 1 month ago (1 children)

I doubt the saudis will be very happy if Musk doesn’t repay them their investment. I’m surprised they haven’t threatened him into stepping down and handing their investment to someone who can properly manage a social media platform already

[–] EnderMB@lemmy.world 4 points 1 month ago

That'll probably be what happens if Trump loses. Musk didn't spend "his" money so it's no loss, and many from the Middle East have wanted control of Twitter ever since the Arab Spring.