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Twitter may be worth one-third what Musk paid for it last fall as Fidelity marks down investment

By The Associated Press - May 31, 2023, 09:42 AM ET

Last Updated - Jun 21, 2023, 02:38 PM EDT

Twitter may now be worth one-third of what Elon Musk paid for the social media platform just seven months ago

Twitter may now be worth one-third of what Elon Musk paid for the social media platform just seven months ago.

Musk took control of Twitter in October, after a protracted legal battle and months of uncertainty. The CEO of Tesla, who also owns SpaceX, bought Twitter for $44 billion.

The billionaire financed the purchase with funds including loans from a group of banks. Musk has said the $44 billion price tag for Twitter was too high but that the company had great potential.

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Twitter may now be worth one-third of what Elon Musk paid for the social media platform just seven months ago

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Twitter may be worth one-third what Musk paid for it last fall as Fidelity marks down investment

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