{"id":536242,"date":"2023-01-06T17:21:47","date_gmt":"2023-01-06T14:21:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/fidelity-downsizes-value-of-its-twitter-holdings\/"},"modified":"2023-01-06T17:21:47","modified_gmt":"2023-01-06T14:21:47","slug":"fidelity-downsizes-value-of-its-twitter-holdings","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/fidelity-downsizes-value-of-its-twitter-holdings\/","title":{"rendered":"# Fidelity downsizes value of its Twitter holdings"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2b1c31a2f81\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2b1c31a2f81\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/fidelity-downsizes-value-of-its-twitter-holdings\/#%E2%80%9D_Fidelity_downsizes_value_of_its_Twitter_holdings_%E2%80%9C\" >&#8221; Fidelity downsizes value of its Twitter holdings   &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Fidelity_downsizes_value_of_its_Twitter_holdings_%E2%80%9C\"><\/span>&#8221; Fidelity downsizes value of its Twitter holdings   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDEvNDRkNDgwMGItYWQ2Zi00NGZiLTkwMDktODEzOGUzNzU1ODMwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ed77c39>Investment firm Fidelity has written down the value of its initial stake in Twitter following its funding of Elon Musk\u2019s takeover of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> platform.<\/p>\n<p>According to a filing of the Fidelity Blue Chip Growth Fund in November 2022, the firm has written down the carrying value of its Twitter investment by more than 50 percent. The filing was first <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.axios.com\/2022\/12\/30\/twitter-fidelity-valuation\">reported<\/a> by Axios.<\/p>\n<p>A write-down is a reduction in the value of an asset on a company\u2019s balance sheet. This typically occurs when the asset&#8217;s market value falls below its book value, which is the value at which the asset is recorded on the balance sheet. <\/p>\n<p>Fidelity\u2019s initial stake in Twitter was valued at $19.66 million in October 2022 and has now been written down to just $8.63 million. According to Market Insider, Fidelity <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bizjournals.com\/boston\/news\/2022\/05\/06\/fidelity-twitter-musk.html\">put forward<\/a> $316 million to help Musk\u2019s bid to take over Twitter in October 2022.<\/p>\n<p><strong><em>Related: Twitter adds BTC and ETH price indexes to search function<\/em><\/strong><\/p>\n<p>Fidelity holds its Twitter investments through its mutual funds in X Holdings I Inc., a holding company that Musk used as part of his Twitter takeover bid. <\/p>\n<p>Musk\u2019s Twitter takeover has been a controversial topic, marred by layoffs of staff and a plethora of operational changes at the social media giant. Various reports speculate that other investment firms may follow-suit in writing-down the value of Twitter holdings. <\/p>\n<p>Cryptocurrency exchange Binance was among a number of companies to put funds towards Musk\u2019s Twitter acquisition. The company committed $500 million to co-invest in Twitter alongside the likes of Fidelity, Sequoia Capital Fund and 18 other companies.<\/p>\n<p>Cointelegraph has reached out to Fidelity to ascertain the details of its Twitter holdings write-down.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/fidelity-downsizes-value-of-its-twitter-holdings\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Fidelity downsizes value of its Twitter holdings &#8220; Investment firm Fidelity has written down the value of its initial stake in Twitter following its funding of Elon Musk\u2019s takeover of the social media platform. According to a filing of the Fidelity Blue Chip Growth Fund in November 2022, the firm has written down the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":536243,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/44d4800b-ad6f-44fb-9009-8138e3755830.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[107431,117,39394,73711,10401],"class_list":["post-536242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrency-investment","tag-business","tag-elon-musk","tag-investments","tag-twitter"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/536242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=536242"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/536242\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/536243"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=536242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=536242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=536242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}