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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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[–] Ilovethebomb@lemm.ee 3 points 1 month ago (1 children)

I mean, yeah we all knew he overpaid, but losing over 75%? I didn't expect that.

[–] dabaldeagul@feddit.nl 12 points 1 month ago (1 children)

Twitter wasn't profitable right? So most of the "value" is in the name of the product. Elon changed the name and added his signature to everything the platform was doing, completely changing the platform Twitter is. So yeah, I do get why 75% of the money is gone now.

[–] Ilovethebomb@lemm.ee 5 points 1 month ago

Changing the name of one of the most valuable brands isn't something I'd expect even him to do.