- cross-posted to:
- [email protected]
- cross-posted to:
- [email protected]
Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.
By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).
Xtwitter is obviously a dumpster fire, but it’s Tesla that’s going to disintegrate the most wealth. Does anybody really think that company is worth more than the GDP of Taiwan?
I delighted in being able to show this headline to guests last night after we’d riffed on what an idiot Lonnie was a couple hours earlier. Lonnie-boy just keeps delivering. When he fucks up his fortune and lives in shame and disgrace I’ll be happy. Until then, I don’t want to hear about his every dumb post. But news of his company’s failure can continue. Please proceed.
Elon Musk is going to crash the entire economy by himself and it’s going to be hilarious.