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According to Elon Musk’s own math, the company formerly known as Twitter has lost 90% of its value and could be worth just $4 billion (finance.yahoo.com)
submitted 3 years ago by to c/technology@lemmy.world
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[–] 7 points 3 years ago* (9 children)

Terrible for him. Great for everyone else that that 40 billion is now in the hands of other people. 

It’s also ironic, that he is single-handedly the greatest redistributor of his own wealth. 

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  • [–] 17 points 3 years ago (5 children)

    That's not really how that works. He just reduced the value of the site. He nuked value out of existence.

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  • [–] 16 points 3 years ago (2 children)

    I mean he did spend 44 billion prior to said nuking. Site isn't worth as much now sure, but the volume of currency still traveled into the hands of others.

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  • [–] 7 points 3 years ago

    40 billion going into the bank accounts of investors that previously owned Twitter stock certainly is a redistribution of wealth, but I doubt it’s the kind you’re referring to.

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