Fidelity Values Twitter At Roughly $15 Billion—A Third Of The Sticker Price Paid By Musk (2024)

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Fidelity Values Twitter At Roughly $15 Billion—A Third Of The Sticker Price Paid By Musk (2024)

FAQs

What was the price of Twitter paid by Elon Musk? ›

A year after he bought Twitter for $44 billion, Musk thinks the company is now worth $19 billion, a 55 percent drop.

Is Twitter worth half of what Musk paid for it? ›

X, the platform formerly known as Twitter, is worth less than half of what Elon Musk paid for it a year ago. Restricted stock units awarded to employees value the company at $19 billion, or $45 a share, according to a person familiar with the matter. A year ago, Musk bought Twitter Inc. for $44 billion.

Was Twitter really worth 44 billion? ›

Elon Musk's X, formerly known as Twitter, is now worth just $12.5 billion. We may earn a commission from links on this page. Elon Musk purchased X, formerly known as Twitter, in October 2022 for $44 billion. Since then, its value has plunged 71.5%.

Does Fidelity own part of Twitter? ›

Investment giant Fidelity believes the shares it holds of X, the platform formerly known as Twitter, are worth 71.5% less than when Musk first purchased the social media company in October 2022, according to a new securities filing.

What percentage of Twitter does Musk own? ›

Musk owns about 79% of Twitter. The company is valued at about $20 billion as of March 2023. In July 2023, Musk rebranded Twitter as X, replacing the blue bird logo with the letter.

Who made money from the Twitter sale? ›

Institutional investors, which held more than two-thirds of Twitter's stock, saw the biggest windfalls. Vanguard Group was the company's largest shareholder, with a 10.3% stake, giving that investment advisor a payout of roughly $4.5 billion. BlackRock pocketed roughly $2.8 billion for its 52 million-plus shares.

Is Twitter struggling financially? ›

It's not just the platform's identity that's on shaky grounds. Twitter was already struggling financially when Musk purchased it for $44 billion in a deal that closed Oct. 27, 2022, and the situation appears more precarious today.

Why Musk paid so much for Twitter? ›

Elon Musk said at a conference in Paris: "If I'm so smart then why did I pay so much for Twitter?" The Tesla CEO said he spent $44 billion as he was "concerned" about Twitter's "negative" effects. Musk also said he was worried Twitter was having a "corrosive" impact on society.

What would Twitter stock be worth today? ›

(TWTR) $53.70 (NYSE) Share Price Today.

How much of Tesla does Elon Musk own? ›

However, Musk is hardly without financial resources: He owns almost 13% of Tesla shares, worth $73 billion. He also has stakes in SpaceX, worth $71 billion, and multiple other businesses, giving him a total net worth of $203 billion, according to the Bloomberg Billionaires Index.

How did Twitter lose so much money? ›

Changing the social media business model

Advertising accounted for nearly 90% of Twitter's $5.1bn in annual revenue in 2021. That total has slumped due to an advertiser exodus triggered by fears over moderation standards on the platform and general concerns about Musk's leadership.

Why is Twitter losing 4 million dollars a day? ›

He tweeted: "Twitter has had a massive drop in revenue, due to activist groups pressuring advertisers, even though nothing has changed with content moderation and we did everything we could to appease the activists." Companies including General Motors, Volkswagen, Audi, and Pfizer have paused their advertising.

Who owns most of Fidelity? ›

The founding Johnson family, individually and through various trusts, owns stock representing a 49% voting interest in FMR, and have signed agreements pledging to vote all their shares as a bloc. Edward Johnson III was chairman of the group, but was replaced by his daughter, Abigail Johnson.

Who is behind Fidelity? ›

The Boston-based Johnson family owns 49% of mutual fund company Fidelity. The other 51% is owned by employees. Abigail Johnson is the third generation of the family to run the company.

Is Fidelity owned by Amazon? ›

Amazon and Fidelity Investments are not affiliated. Amazon and the Amazon logo are trademarks of Amazon.com, Inc or its affiliates.

At what price did Elon Musk buy Twitter? ›

Elon Musk bought Twitter for $44 billion after months of negotiation.

How much did Elon Musk get paid for Twitter? ›

On April 14, Musk made an unsolicited offer to purchase the company, to which Twitter's board responded with a "poison pill" strategy to resist a hostile takeover before unanimously accepting Musk's buyout offer of $44 billion on April 25.

How did Elon Musk pay 44 billion? ›

Musk pledged to provide $46.5 billion in equity and debt financing for the acquisition, which covered the $44 billion price tag and the closing costs. Banks, including Morgan Stanley (MS. N) , opens new tab and Bank of America Corp (BAC. N) , opens new tab, committed to provide $13 billion in debt financing.

What was Twitter's stock price? ›

Twitter
Open53.94
Previous Close53.35
Beta0.15

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