Twitter is already worth a third of what Elon Musk paid for the company. The billionaire’s controversial decisions as CEO have significantly affected the valuation of the company, which is constantly declining.
Late last year, Elon Musk bought Twitter for more than $44 billion. After finalizing the documents and removing the well-known company from the stock exchange, things quickly went according to a new scenario. All because of the hurricane of changes of the scandalous rich man.
Twitter is worth a third of the purchase price - about $ 15 billion
Fidelity estimates that Twitter is now worth $15 billion, or about 33 percent of what it bought Elon Musk for. A well-known financial corporation has estimated the new value in newly released documents as of April 28, 2023.
The corporation owns shares of Twitter, so it is very interested in the success of the company. Fidelity does not disclose the full range of sources used in the assessment. Experts believe that corporate finance professionals can obtain more accurate financial data than individuals and institutions not affiliated with Twitter. However, this is not certainty.
Musk wants to build X, the super app for everything
Elon Musk stubbornly assures that if Twitter survives the current period of weakness, the company could be worth up to $250 billion in the future. This is due to a long-term plan to create an “app for everything” called X. Twitter has gradually evolved into it.
The billionaire already had a dream of creating a program similar to Asian super apps like WeChat or AliPay. X will not only be a social network and messenger, but also a shopping and payment platform. The system will also provide various services such as travel or food delivery.
Source: Wprost
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