{"id":640005,"date":"2024-09-30T07:34:29","date_gmt":"2024-09-30T04:34:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/fidelity-has-cut-xs-value-by-79-since-musk-purchase\/"},"modified":"2024-09-30T07:34:29","modified_gmt":"2024-09-30T04:34:29","slug":"fidelity-has-cut-xs-value-by-79-since-musk-purchase","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/fidelity-has-cut-xs-value-by-79-since-musk-purchase\/","title":{"rendered":"#Fidelity has cut X&#8217;s value by 79% since Musk purchase"},"content":{"rendered":"<div>\n<p id=\"speakable-summary\" class=\"wp-block-paragraph\">Elon Musk\u2019s X is now valued at less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The asset manager, which helped Musk acquire the social network formerly known as <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a>, has further reduced the value of its holding in X to a total markdown of 78.7% as of August\u2019s end, based on newly <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.actionsxchangerepository.fidelity.com\/ShowDocument\/ComplianceEnvelope.htm?_fax=-18%2342%23-61%23-110%23114%2378%23117%2320%23-1%2396%2339%23-62%23-21%2386%23-100%2337%2316%2335%23-68%2391%23-66%2354%23103%23-16%2369%23-30%2358%23-20%2376%23-84%23-11%23-87%2348%23-52%23-21%23-96%23-58%23-33%23-107%23-46%2393%23113%23-112%23127%23-42%23-97%2330%23-58%23-24%23-27%23-119%2394%23-121%23-102%23-69%23-71%23-99%2338%2353%23-51%2361%23-106%23-18%23-43%23-106%23-20%23-31%2385%23-55%235%2388%23-74%2371%23107%23-82%23-3%23-86%23-27%23-57%23-125%2342%23119%2357%23-111%2321%2363%23-99%2317%23-28%2320%23-38%23-101%23113%2380%23-77%23-4%23\">released disclosures<\/a> from Fidelity\u2019s Blue Chip Growth Fund.\u00a0<\/p>\n<p class=\"wp-block-paragraph\">The fund\u2019s latest report indicates that it now values its stake in X at <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $4.18 million. For context, Fidelity had initially invested $19.66 million in X through the Blue Chip Fund, as per regulatory filings.\u00a0This isn\u2019t the first time Fidelity has cut the value of its holding in X. As of July\u2019s end, Fidelity valued its shares in X at about $5.5 million.<\/p>\n<p class=\"wp-block-paragraph\">This 78.7% markdown implies that Fidelity is currently valuing X at about $9.4 billion overall. Fidelity and X didn\u2019t immediately respond to a request made outside of business hours for comment.<\/p>\n<\/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\/CAAqBwgKMN63nwsw68G3Aw\" 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;\"><strong>If you want to read more like this article, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/technology\/\" target=\"_blank\" rel=\"noopener\">Technology<\/a><\/span> category.<\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/techcrunch.com\/2024\/09\/29\/fidelity-has-cut-xs-value-by-79-since-musk-purchase\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Elon Musk\u2019s X is now valued at less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.\u00a0 The asset manager, which helped Musk acquire the social network formerly known as Twitter, has further reduced the value of its holding in X to a total markdown of 78.7%&#8230;<\/p>\n","protected":false},"author":1,"featured_media":640006,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/techcrunch.com\/wp-content\/uploads\/2024\/08\/Screen-Shot-2024-08-20-at-5.01.56-PM.png?resize=1200,674","fifu_image_alt":"","footnotes":""},"categories":[18],"tags":[39394,152088,31059,10401,151477],"class_list":["post-640005","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-elon-musk","tag-fidelity","tag-social","tag-twitter","tag-venture"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/640005","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=640005"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/640005\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/640006"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=640005"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=640005"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=640005"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}