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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, who paid $44 billion for Twitter, including $33.
