Twitter is worth only about one-third of what Elon Musk and 19 co-investors paid to acquire it last fall, according to a new disclosure by one of its investors.
Fidelity, which helped back the $44 billion takeover led by Musk, has marked down its investment numerous times in the intervening months.
A monthly report of portfolio valuations just issued by the financial institution and mutual fund operator reflected the downgrade.
Extrapolating from where Fidelity pegged its stake, all of Twitter would be worth roughly $15 billion, according to an assessment by Bloomberg.
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