{"id":28067,"date":"2023-06-01T18:14:14","date_gmt":"2023-06-01T18:14:14","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/?p=28067"},"modified":"2023-06-01T18:46:38","modified_gmt":"2023-06-01T18:46:38","slug":"fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid","title":{"rendered":"Fidelity Says Twitter is Now Worth a 3rd of What Musk Paid"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>Twitter is now worth just a third of what Elon Musk paid for the social media platform, according to Fidelity, which recently marked down the value of its stake in the company.<\/b><\/p>\n

Musk, who has acknowledged he overpaid for Twitter, offered employees new equity grants earlier this year that valued the company at US$20-billion. It\u2019s unclear how Fidelity arrived at its new valuation or whether it receives any non-public information from the company.<\/p>\n

Fidelity first reduced the value of its Twitter stake in November, to 44% of the purchase price. That was followed by further markdowns in December and February.<\/p>\n

Twitter has struggled financially since Musk took over. After saddling the company with $13-billion of debt, Musk\u2019s erratic decision-making and challenges with content moderation led advertising revenue to decline by 50%, Musk said in March. An attempt to recoup that revenue by selling Twitter Blue subscriptions has so far failed to take off. At the end of March, less than 1% of Twitter\u2019s monthly users had signed up.<\/p>\n

Twitter didn\u2019t specifically respond to a request for comment.<\/p>\n

Musk\u2019s investment in Twitter is now worth $8.8-billion, according to the Bloomberg Billionaires Index, which uses Fidelity\u2019s valuation to calculate the value of his holding. Musk spent more than $25-billion to acquire an estimated 79% stake in the company last year.<\/p>\n

The latest markdown erases about $850-million from Musk\u2019s $187-billion fortune, according to the index. Despite Twitter\u2019s issues, Musk\u2019s wealth is up more than $48-billion this year, largely due to a 63% surge in Tesla\u2019s share price.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. Twitter is now worth just a third of what Elon Musk paid for the social media platform, according to Fidelity, which recently marked down the value of its stake in the company. Musk, who has acknowledged he overpaid for Twitter, offered employees new equity grants earlier this year that valued the company […]<\/p>\n","protected":false},"author":84,"featured_media":28066,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[233,237,234],"class_list":["post-28067","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nFidelity Says Twitter is Now Worth a 3rd of What Musk Paid - Botswana<\/title>\n<meta name=\"description\" content=\"Twitter is now worth just a third of what Elon Musk paid for the social media platform, according to Fidelity, which ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fidelity Says Twitter is Now Worth a 3rd of What Musk Paid\" \/>\n<meta property=\"og:description\" content=\"Twitter is now worth just a third of what Elon Musk paid for the social media platform, according to Fidelity, which ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid\" \/>\n<meta property=\"og:site_name\" content=\"Botswana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-01T18:14:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-01T18:46:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/06\/sm_1685626398.766506.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Fidelity Says Twitter is Now Worth a 3rd of What Musk Paid\",\"datePublished\":\"2023-06-01T18:14:14+00:00\",\"dateModified\":\"2023-06-01T18:46:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid\"},\"wordCount\":284,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/botswana\/sites\/38\/2023\/06\/sm_1685626398.766506.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Botswana\",\"Botswana\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid\",\"url\":\"https:\/\/www.africa-press.net\/botswana\/all-news\/fidelity-says-twitter-is-now-worth-a-3rd-of-what-musk-paid\",\"name\":\"Fidelity Says Twitter is Now Worth a 3rd of What Musk Paid - 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