Twitter It is currently worth a third of the $44 billion billionaire Elon Musk shelled out last year. to take over the social network, according to an estimate by the investment fund Fidelity, one of the firms that participated in the operation.
Fidelity calcula que At the end of April, his participation in Twitter had a value of just over six thousand 500 million dollars, compared to the 19 thousand 700 million that it attributed to him last October, when Musk completed the acquisition of the company.
Thus, the estimate of the fund -which appears in a document detailing its investments- would give Twitter a valuation of about $15 billion today.
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Musk, who bought Twitter last year promising to restore his vision of “free speech,” has introduced important changes in the operation of the platformsome modifications that have led many advertisers to withdraw or reduce their advertising spending on the social network.
Advertising has so far accounted for the bulk of the company’s income, where the magnate has proceeded to a huge cut in staff amid warnings of possible bankruptcy if spending is not reduced.
In March, in a message to employees, Musk himself estimated that the value of Twitter had fallen to about $20 billion.less than half of the 44 thousand that he paid in October.
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The valuation released now by Fidelity – which refers to Twitter with the new name of X Holdings given to it by Musk – precedes the latest big move at the company: the appointment of Linda Yaccarino as the new CEO.
Musk, who had assumed that role after the purchase, has chosen an executive with extensive advertising experience to lead business operations, while he will focus on product design and new technologies for the social network.
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