Fidelity reportedly marked up its X stake by 32 percent
Fidelity increased the valuation of its stake in Elon Musk's X by 32.37% in October, yet it remains 72% below Musk's original $44 billion purchase price.
MAIN POINTS
- Fidelity raised the value of its X holdings by 32.37% in October.
- Despite the increase, X's valuation is still 72% less than Musk's purchase price.
- Elon Musk bought X, formerly known as Twitter, for $44 billion in 2022.
- The valuation adjustment was reported by Axios.
TAKEAWAYS
- Fidelity's valuation adjustment reflects a significant increase in X's perceived value.
- The current valuation highlights a substantial depreciation since Musk's acquisition.
- The revaluation indicates changing market perceptions of X's worth.
- Axios provides insights into Fidelity's valuation strategy for X.