this post was submitted on 04 Jan 2024
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241
Fidelity marks down X valuation by 71.5% (techcrunch.com)
submitted 1 year ago by [email protected] to c/[email protected]
16 comments fedilink hide all child comments
 

Fidelity marks down X valuation by 71.5%::Asset manager Fidelity has marked down its investment in Musk-owned X by 71.5% from the original valuation of shares. 

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[–] gravitas_deficiency 23 points 1 year ago (2 children)

He bought it with the specific intent of using it to measurably impact the election we’re having in 10 months.

[–] [email protected] 12 points 1 year ago* (last edited 1 year ago) (1 children)

And for 44 billion, so he basically got screwed out of a small fortune to ruin it for someone else. It would have been cheaper and as effective to distort the election to keep running it the way it was.

[–] [email protected] 8 points 1 year ago

"small"

[–] [email protected] 1 points 1 year ago

I know this and have repeated it elsewhere. In this particular sense, it does have the value he paid.