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Fidelity marks down X valuation by 71.5% (techcrunch.com)

submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world

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Fidelity marks down X valuation by 71.5%::Asset manager Fidelity has marked down its investment in Musk-owned X by 71.5% from the original valuation of shares.

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[–] gravitas_deficiency@sh.itjust.works 23 points 10 months ago (2 children)

He bought it with the specific intent of using it to measurably impact the election we’re having in 10 months.

[–] KingThrillgore@lemmy.ml 12 points 10 months ago* (last edited 10 months ago) (1 children)

And for 44 billion, so he basically got screwed out of a small fortune to ruin it for someone else. It would have been cheaper and as effective to distort the election to keep running it the way it was.

[–] noodlejetski@lemm.ee 8 points 10 months ago

"small"

[–] TropicalDingdong@lemmy.world 1 points 10 months ago

I know this and have repeated it elsewhere. In this particular sense, it does have the value he paid.