Fidelity helped Elon Musk with his Twitter takeover, earning a stake in X that's become increasingly less valuable.

Fidelity’s Blue Chip Growth Fund cut the value of its position in X by 5.7% in February, implying a 73% decline in the former Twitter Inc. since Elon Musk bought the social-media company.

Fidelity, which gained a stake in X by helping Musk complete his $44 billion purchase in October 2022, valued the position at $5.28 million as of Feb. 29, according to a report posted Saturday listing the fund’s holdings. A month earlier, the value was $5.6 million.

  • TooManyFoods@lemmy.world
    0·
    7 months ago

    He doesn’t “feel” any of this except in the ego, and the ego would hurt more if he admitted he was wrong. He can private jet around all day and not run out of money for the rest of his life. Maybe it delays his plans to be able to more fully buy people, but that’s not a feeling I’m curious to feel.