X Is Now Worth 55% Less , Than What Elon Musk Paid for It.
Musk bought X, formerly Twitter,
for $44 billion last year. .
Musk bought X, formerly Twitter,
for $44 billion last year. .
Now, he thinks it's worth only
$19 billion, The Verge reports. .
That valuation was revealed in internal documents awarding X employees company equity at $45 per share, or $19 billion. .
There was also a note stating that "the fair
market value per share is determined by the
Board of Directors based on a number of factors in
a manner that complies with applicable tax rules.".
The Verge points out that Musk is the company's chair, as he has not yet established a formal board.
However, X might be worth
even less than $19 billion.
One of the company's investors, Fidelity, thinks X is only worth about $15 billion
to $16 billion, The Verge reports. .
One of the company's investors, Fidelity, thinks X is only worth about $15 billion
to $16 billion, The Verge reports. .
That is 65% less than what Musk bought it for.
Fidelity invested over
$300 million in Musk's takeover.
Fidelity invested over
$300 million in Musk's takeover.
According to Axios, Musk has often admitted that he paid too much for the platform