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

submitted 2 months 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 2 months ago

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

[-] dabaldeagul@feddit.nl 12 points 2 months ago

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 2 months ago

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

this post was submitted on 30 Sep 2024

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