• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Saturday, May 31
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

    May 29, 2025

    ‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

    May 29, 2025

    DeSantis Signs Bill Making Gold And Silver Legal Tender

    May 28, 2025

    John Deere Announces $20 Billion Plan To Build Up American Manufacturing

    May 28, 2025

    EV Startup Promised To Cut China Ties — Then Reportedly Shared US Data Anyway

    May 27, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Tech»Value of Elon Musk’s Twitter Plummets to Just One-Third of Purchase Price
Tech

Value of Elon Musk’s Twitter Plummets to Just One-Third of Purchase Price

June 1, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

Fidelity Investments has reported that Twitter is now worth just one-third of the $44 billion that tech mogul Elon Musk paid for the social media giant about nine months ago. Fidelity holds a stake in Twitter after backing Musk’s takeover.

Bloomberg reports that Twitter is now only worth a third of the $44 billion that tech tycoon Elon Musk paid for the social media giant according to Fidelity Investments. “Twitter’s value has seen a significant decline since Musk’s takeover,” a Fidelity spokesperson said. “Our recent evaluation of our equity stake in the company reflects this downturn.”

Elon Musk shades his eyes in front of a Tesla

Elon Musk shades his eyes in front of a Tesla ( Maja Hitij /Getty)

Elon Musk, who paid $44 billion for Twitter, including $33.5 billion in equity, has openly acknowledged that he overpaid for the service. “Twitter is worth less than half what I paid for it,” Musk confessed in a recent statement.

In November, Fidelity reduced the value of its Twitter holding to 44 percent of the original purchase price. The platform then experienced additional markdowns in December and February, which highlighted its ongoing financial difficulties.

Twitter has been dealing with financial issues ever since Musk bought it. Under Musk’s management, the company has a $13 billion debt load. As Musk revealed in March, his erratic decision-making and difficulties with content moderation have caused a 50 percent decline in advertising revenue. Selling Twitter Blue subscriptions in an effort to make up for lost income has so far not been successful. Less than one percent of Twitter’s monthly users had signed up as of the end of March.

See also  Elon Musk's Cybertruck Gives Tesla Big Production Headaches as Launch Date Looms

In April, Musk openly admitted that legal pressure was the driving force behind his purchase of the social media firm. According to the Bloomberg Billionaires Index, the most recent markdown subtracts about $850 million from Musk’s $187 billion fortune. Musk’s wealth has increased by more than $48 billion this year, largely as a result of a 63 percent increase in the share price of Tesla.

Read more at Bloomberg here.

Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan

Elon Musks OneThird Plummets Price Purchase Twitter
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Walmart Announces Tariff-Driven Price Hike After Announcing Billions In Profit

May 15, 2025

Amazon Reportedly Floats Plan To Show Tariff Price Increases To Shoppers — Karoline Leavitt Calls It ‘Hostile’ Move

April 29, 2025

Trump Admin Greenlights Installation Of Elon Musk’s Starlink On United Airlines Planes

April 1, 2025

Canadian Premier Bends Knee To US, Apologizes To Americans After Threatening Energy Price Hike For Millions

March 12, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Stock tanks 8% after bookings miss

May 10, 2023

Euro jumps on inflation while dollar braces for jobs

August 31, 2023

LVMH sales growth loses fizz as post-pandemic splurge wanes

October 11, 2023

How To Start Healing From Past Trauma

October 27, 2023
Don't Miss

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

Business May 29, 2025

Consumers’ Research issued a “Woke Alert” on Thursday warning American shoppers that three European companies…

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025

John Deere Announces $20 Billion Plan To Build Up American Manufacturing

May 28, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,136)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,645)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Brutal Video Shows David Blaine Getting Shoulder Popped Back In After Dislocating It On Stage

March 13, 2023

Louisiana Man Wins Lawsuit Against Town That Targeted the Anti-Biden Flags on His Truck | The Gateway Pundit

September 17, 2023

Responsible Gambling | A Comprehensive Guide for Safe Betting

September 26, 2023
Popular Posts

EXCLUSIVE: ‘The Man She Is Today’: European Companies Accused Of ‘Importing’ Woke Ideology

May 29, 2025

‘The Economy Is On Fire!’: Kevin O’Leary Drops Fact Check On CNN Panelists Railing Against Trump’s Economy

May 29, 2025

DeSantis Signs Bill Making Gold And Silver Legal Tender

May 28, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.