Iceland Posted May 31, 2023 Share Posted May 31, 2023 Twitter is now worth 33 percent of what Elon Musk paid for it, according to an investment firm that helped finance the deal. Ever since Elon Musk acquired Twitter for $44 billion last year, it's been a widely agreed upon stance that he greatly overpaid for the social media platform. However, the amount in which he overpaid seems to be widening post-acquisition. According to Fidelity(opens in a new tab), Twitter is now worth around 33 percent what the billionaire originally paid for it. That puts Twitter's value at roughly $15 billion. The number comes from the investment firm's own valuation of its own stake in Musk's Twitter, which Fidelity helped finance. Twitter's valuation from Fidelity follows a pattern since Musk took over in October of last year. Fidelity has consistently downgraded its own holdings in the company, knocking the value of its stake by 56 percent(opens in a new tab) just a month after the acquisition closed. By the end of February, Fidelity further downgraded its stake by more than 63 percent(opens in a new tab) before knocking it down by a full two-thirds this month. https://mashable.com/article/twitter-now-worth-one-third-what-elon-musk-paid Link to comment Share on other sites More sharing options...
Aston Martin Posted May 31, 2023 Share Posted May 31, 2023 My heart breaks for this arrogant billionaire that regularly platforms fascists Link to comment Share on other sites More sharing options...
Vixen Eyes Posted May 31, 2023 Share Posted May 31, 2023 Link to comment Share on other sites More sharing options...
Smarticle Posted May 31, 2023 Share Posted May 31, 2023 Link to comment Share on other sites More sharing options...
NoisYBoY Posted May 31, 2023 Share Posted May 31, 2023 welp Link to comment Share on other sites More sharing options...
NoOneDiesFromLove Posted May 31, 2023 Share Posted May 31, 2023 It's also one-third as good Link to comment Share on other sites More sharing options...
Dancehall Queen Posted May 31, 2023 Share Posted May 31, 2023 (opens in a new tab) 1 Link to comment Share on other sites More sharing options...
Psylocke Posted May 31, 2023 Share Posted May 31, 2023 Should be less, it barely even works half of the time Link to comment Share on other sites More sharing options...
fauxtography Posted May 31, 2023 Share Posted May 31, 2023 1 minute ago, Psylocke said: Should be less, it barely even works half of the time Thats what is even more outrageous. Like not only did it boost and platform literal white supremacists but the service itself is actually worse than its ever been. It was a rarity for features to just break under jack. I actually cant think of any besides a couple of outages that were again, a rarity. That on top of not being able to go to ANY tweet without first being greeted with blue check-mark incels....i cant. I need bluesky to open publicly so I can delete my account. Link to comment Share on other sites More sharing options...
JustHoran Posted May 31, 2023 Share Posted May 31, 2023 6 minutes ago, fauxtography said: Thats what is even more outrageous. Like not only did it boost and platform literal white supremacists but the service itself is actually worse than its ever been. It was a rarity for features to just break under jack. I actually cant think of any besides a couple of outages that were again, a rarity. That on top of not being able to go to ANY tweet without first being greeted with blue check-mark incels....i cant. I need bluesky to open publicly so I can delete my account. Instagram (Meta) is working on a Twitter replacement that could launch as soon as June. It looks like a total Twitter rip-off from what I hear, so I am excited for that BlueSky is interesting as well but taking forever to launch Link to comment Share on other sites More sharing options...
fauxtography Posted May 31, 2023 Share Posted May 31, 2023 Just now, JustHoran said: Instagram (Meta) is working on a Twitter replacement that could launch as soon as June. It looks like a total Twitter rip-off from what I hear, so I am excited for that BlueSky is interesting as well but taking forever to launch literally cant wait to be under meta's boot at this point if it means getting a platform with some kind of moderation yeah, bluesky has been an annoying launch, but hoping it can do its whole "decentralized thing" without being as off putting as mastadon. the fact they only gave invites out to influencers tho despite me signing up for beta first day Link to comment Share on other sites More sharing options...
harwee Posted May 31, 2023 Share Posted May 31, 2023 (edited) Its been trash for years, he doesn’t know what to do with it, everyone in that company probably hates him and just waiting to be fired. What could go wrong. Edited May 31, 2023 by harwee Link to comment Share on other sites More sharing options...
ChrisTheLoner Posted May 31, 2023 Share Posted May 31, 2023 It's what he deserves for running it into the ground Link to comment Share on other sites More sharing options...
thetea Posted May 31, 2023 Share Posted May 31, 2023 good. elon musk is a loser and he ruined twitter. i seriously don't how he became can be a billionaire when he acts so irresponsibly Link to comment Share on other sites More sharing options...
BrokenMachine Posted May 31, 2023 Share Posted May 31, 2023 Well, and I thought Twitter couldn't be more ruined Link to comment Share on other sites More sharing options...
EnigmaticAndroid Posted May 31, 2023 Share Posted May 31, 2023 I was told that he was going to save the app and bring it to new heights, what happened? Link to comment Share on other sites More sharing options...
CBC Posted May 31, 2023 Share Posted May 31, 2023 And as soon as Blue Sky opens it's over for this facist pig Link to comment Share on other sites More sharing options...
Revolution Posted May 31, 2023 Share Posted May 31, 2023 He is a product of nepotism, born to South African apartheid wealth, so not surprised he's actually a terrible businessman. 1 Link to comment Share on other sites More sharing options...
FightForTanas Posted May 31, 2023 Share Posted May 31, 2023 (edited) ive probably gone on there maybe 3 times in the past 2 weeks and when I did it was a cesspool of homophobia and racism. Its legitimately an alt right social media site now. Edited May 31, 2023 by FightForTanas Link to comment Share on other sites More sharing options...
JonginBey Posted May 31, 2023 Share Posted May 31, 2023 Womp. Link to comment Share on other sites More sharing options...
onapearl Posted May 31, 2023 Share Posted May 31, 2023 Lmao, get ******, Musk. Link to comment Share on other sites More sharing options...
James_Dean Posted May 31, 2023 Share Posted May 31, 2023 Can't say that I feel bad! Link to comment Share on other sites More sharing options...
Velvet Night Posted May 31, 2023 Share Posted May 31, 2023 What an amazing businessman. He overpaid for a company by billions of dollars, then he went on to tank that company's value even further. Link to comment Share on other sites More sharing options...
dirrtydiana Posted May 31, 2023 Share Posted May 31, 2023 Serves him right. Who in their right mind spend that much for a c list social network Link to comment Share on other sites More sharing options...
Indie Go Mind Posted May 31, 2023 Share Posted May 31, 2023 2 hours ago, Dancehall Queen said: (opens in a new tab) Love me a recurring joke. Link to comment Share on other sites More sharing options...
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