Twitter is now worth just 33% of Elon Musk’s purchase price, Fidelity says

Twitter is now worth just 33% of Elon Musk’s purchase price, Fidelity says
Musk has admitted he overpaid for Twitter, which he bought for $44 billion. (Image: Getty)
Bloomberg
By Aisha Counts and Tom MaloneyTwitter is now worth just one-third of what Elon Musk paid for the social-media platform, according to Fidelity, which recently marked down the value of its equity stake in the company. Musk has acknowledged he overpaid for Twitter, which he bought for US$44 billion (NZ$72.8b), including US$33.5b in equity. More recently, he said Twitter is worth less than half what he paid for it. It’s unclear how Fidelity arrived at its new, lower valuation or whether it receives any non-public information from t...

More Technology

Rakon share price rockets after takeover bid announced
Markets

Rakon share price rockets after takeover bid announced

Rakon was forced to announce the offer after some shareholders learned of it.

First AI developer to debut on NZX
Markets

First AI developer to debut on NZX

New Zealand sharemarket to start week with a new entry. 

Wellington's OpenStar has a crack at nuclear fusion power
Technology

Wellington's OpenStar has a crack at nuclear fusion power

The startup company has been backed by NZ venture capital funds.