this post was submitted on 30 Sep 2024
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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)
submitted 1 month ago by GeneralInterest to c/technology
196 comments fedilink hide all child comments
 

"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] [email protected] 3 points 1 month ago (1 children)

I mean, yeah we all knew he overpaid, but losing over 75%? I didn't expect that.

[–] [email protected] 12 points 1 month ago (1 children)

Twitter wasn't profitable right? So most of the "value" is in the name of the product. Elon changed the name and added his signature to everything the platform was doing, completely changing the platform Twitter is. So yeah, I do get why 75% of the money is gone now.

[–] [email protected] 5 points 1 month ago

Changing the name of one of the most valuable brands isn't something I'd expect even him to do.