Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity. 

The asset manager, which helped Musk acquire the social network formerly known as Twitter, now values its stake in X at approximately $4.19 million, based on newly released disclosures from Fidelity’s Blue Chip Growth Fund. The fund has reduced the value of its holding in X by a total of 78.7% as of August end.

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[–] 6 points 2 years ago (5 children)

Funds managed by pure numbers. Index funds for example

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  • [–] 7 points 2 years ago (4 children)

    You'll never guess how indices are created

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  • [–] -1 points 2 years ago (3 children)
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  • [–] 1 point 2 years ago (1 child)

    It's not like the S&P500 committee is going to make wild and crazy decisions based on a hunch. It's still very much based on replacing older shrinking companies with newer more vigorous representatives in the same industry.

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