Twitter Valued at One-Third of Acquisition Cost Twitter Valued at One-Third of Acquisition Cost Vanity Teen 虚荣青年 Lifestyle & new faces magazine

Twitter Valued at One-Third of Acquisition Cost

Twitter Loses Value as Report Alleges Significant Depreciation

According to a recent report, Twitter is experiencing a decrease in value, allegedly worth only one-third of the sum Elon Musk and his 19 co-investors paid to acquire the social media platform.

Fidelity Mark Down Investment Following Acquisition

Fidelity, who initially assisted Elon Musk in a $44 billion USD takeover, recently announced the devaluation of its investment in a portfolio valuation. The current estimated worth of Twitter is now around $15 billion USD. However, investors are not the only ones taking note of this significant decrease in value. In March of this year, Musk himself admitted that Twitter was only worth $20 billion USD.

Major Layoffs and New Revenue Strategies

Since Musk’s integration into the company, nearly seven thousand employees have been laid off. In an effort to increase profits, the company is now looking towards revenue from paid verification subscriptions.

Musk Continues Involvement with New CEO at Helm

Former NBCUniversal executive, Linda Yaccarino, has stepped in as CEO, but Musk remains involved with Twitter, despite the platform’s decrease in value.

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