New estimates from Fidelity proved Elon Musk might have overpaid for Twitter, which he rebranded to "X" in July 2023.
The tech billionaire acquired the social media platform for $44 billion in 2022. At the time, Fidelity, an asset management firm that owns an equity stake in X, estimated its shares were worth $19.66 million. Those same shares are now reportedly worth just $4.2 million, according to an analysis by CNN.
