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www.axios.com

Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.

By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).

  • skydivekingair@lemmy.world
    43·
    10 months ago

    Well there’s a finite amount, unless they give it a big jump, then they could slash it repeatedly.

    I know you said years but the oldest link there looks like it’s late ‘22. Did you mean that one or longer than 13 months ago?

      • skydivekingair@lemmy.world
        4·
        10 months ago

        😁 I thought about this when posting, but unlike numbers a company only has to devalue so much before it collapses. Like a stilt house and every day you remove 50% of each support beam, you’ll find the house crashes down before you have to worry about never hitting zero support beams.