31
May
Twitter is now worth only a third of what Elon Musk paid for the social media platform, according to Fidelity, which recently reduced the value of his stake in the company. Musk, who has acknowledged overpaying for Twitter, offered employees new stock deals earlier this year that valued the company at $20 billion. It is not clear how Fidelity arrived at its new valuation or if it receives non-public information from the company. Elon Musk would visit China this week Fidelity first reduced the value of its Twitter stake in November, by 44% of the purchase price. This was followed…
