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The new valuation from Fidelity implies that it believes X is now worth just $9.4 billion — a far cry from the $44 billion that Musk paid. Other investors could value X differently.
Elon Musk’s X is worth less than a third of what he paid for it, according to one of the investors who helped him complete the deal. Mutual fund Fidelity has reduced its valuation of the company ...
The Securities and Exchange Commission sued Elon Musk in federal court on Tuesday for allegedly misleading shareholders when he bought hundreds of millions of dollars worth of Twitter stock in ...
Musk started buying shares of Twitter, which he later renamed X, in early 2022. By mid-March, he'd acquired ownership of more than 5% of the company's outstanding stock, according to the SEC filing.
Elon Musk completed his acquisition of Twitter in October 2022; Musk acted as CEO of Twitter until June 2023 when he was succeeded by Linda Yaccarino.In a move that, despite Yaccarino's accession, was widely attributed to Musk, [1] [2] Twitter was rebranded to X on July 23, 2023, [3] and its domain name changed from twitter.com to x.com on May 17, 2024.
On April 25, 2022, Twitter agreed to a $44 billion buyout by Elon Musk, CEO of SpaceX and Tesla, one of the biggest deals to turn a company private. [11] [12] On July 8, Musk terminated the deal. [13] Twitter's shares fell, [14] leading company officials to sue Musk in Delaware's Court of Chancery on July 12. [15]
The business magnate Elon Musk initiated an acquisition of American social media company Twitter, Inc. on April 14, 2022, and concluded it on October 27, 2022. Musk had begun buying shares of the company in January 2022, becoming its largest shareholder by April with a 9.1 percent ownership stake.
Twitter may now be worth one-third of what Elon Musk paid for the social media platform just seven months ago. Financial services company Fidelity has reduced the market value of its equity stake ...