X now valued at less than a quarter of Musk’s purchase price www.theverge.com/2024/9/30/24...
The markdown comes courtesy of Fidelity which now values its initial $19.66 million investment in X at just $4.18 million.
Do we know how much of the £44bn he borrowed?
so factoring in $13 billion of debt the enterprise value has halved? Sounds about right.
Lower, lower….
Will he care? No.
"How do I make a small fortune from social media?" "Start off with a large one."
lol, and indeed, lmao
This shows that any old super rich twat can get finance with little to no due diligence (fuck pension funds that invest in banks) whilst us (civilians/ man on Clapham Omnibus) have to pull our pants down/ stump up security.
As much as that? I wouldn't pay him in washers for it.
Truth Social is now valued at …. Junk status.
Cheaper to pay your taxes.