“Fidelity is currently valuing X at about $9.4 billion”
I found this funny.
Wow. That is brutal.
I wish, I wish… I wish I was a fish.
I wish there was an instrument other than the stock market whereby private individuals could combine their funds to perform hostile take-overs, and then manage them by pre-agreed conditions.
Like: we’re going to buy Twitter, build an AP interface on it, federate it, and operate it like a non-profit. We’re going to have a set of these S core values, with yearly votes on changes proportional to investment. No single investor can own more than T percent of shares Investors can sell their shares, or buy shares. Stock will never spilt. Management salaries, combined, can never exceed more than M% of non-management combined salaries, and run it as a Holocracy. Or, maybe, shares can only be sold to employees, who have to sell to other employees when they leave.
You know; try to design a good operating model that avoids the pitfalls of other companies, and can adapt when the model demonstrates perverse incentives. Put more thought into it than my ramblings above.
But ten billion dollars is a lot of money to put together, and the rules I’d like to see necessarily exclude the sort of profit-only driven capitalists who’d be able to contribute heavy loads, and would limit the amount that could contribute.
I may as well wish I were a fish.
I like your idea. But you’ll have to settle for being a fish.
Good news. Paraphyletic groups are bullshit that shouldn’t exist and if we get rid of them, then you actually are a fish.
It was never worth 44 billion USD
False, because someone paid that much for Twitter.
It was worth 44bn to it’s former owners.
I wonder when Mohamed bin Salman will be coming for his ROI on the $22B that he gave Elon for the purchase of Twitter.
If that $22B prevents another Arab Spring it’s probably worth it to him.
This guy gets it.
Twitter has worth?
It has worth. It doesn’t have value.
Tesla is next. I’m not sure even he can fuck up SpaceX but I’m sure he’ll give it the ol’ college try.
My first thought is ‘I can’t wait for it to turn zero’ but then I realize that 79% decline from 44 billion still means it is worth 9.24 billion.
And that is still a shitload of money.
But on the plus side, this idiot is 34.76 billion poorer
How to become a billionaire: Start with 54 billion
Something tells me its value is not monetary for Musk.
While probably true, this still probably gets him all wound up.
I remember thinking twitter was bad before he took over
It’s now a complete shadow of what it was even just a couple of years ago. Just a quarter of its value seems generous
I just checked and it’s worth nothing to anyone important.
Didn’t he pay too much for it in the first place?
Yea. He made a baseless offer before investigating. And the. Got called on it.
paying too much is when you buy a ubisoft game. what he did is officially the worst deal since the financial crisis.
It is amazing how some people can fail upward
A real socialist! Took money from the rich to give it to the poor (minded). /s
Still worth billions though.
“Y’all my current portfolio is worth 9 BILLION dollars!” “Ah sick, seems to be going pretty well for you.” “Yeah, I’m down 75%”
“Still worth billions tho” is one of the dumbest things I’ve heard on this platform and that’s saying a lot.
look even 1 billion is more than enough to live on for a lifetime and then quite a bit left over, so that is not really that dumb
While you are correct, that’s not the point of this article. It’s about how X lost value. Elon isn’t homeless, so yeah it’s still worth a lot of money.
If he succeeds in using it as a propaganda platform to force the US into a fascist dictatorship, he will have gotten his money’s worth.
