Social 80% decline in value of X since Musk purchase according to Fidelity

[Makani]

I have never in the entire time since his purchase heard anyone call it "X" in real life. What a maroon.

 

[Helden]

I have never in the entire time since his purchase call it "X" in real life. What a maroon.

He's like a 15 year old kid in early 2000s, thinking the letter 'X' is super cool

 

[USA!USA!]

It's Musk's money. He can do whatever he wants with it. I am just disappointed he is trying to blatantly influence elections with it.

Wonder if he will sell if Trump loses. That seems like the only goal of his at this point. If it fails, what is next?

 

[Dalarna3]

It's a real hate it or love it website. The people on it now love it more than ever, but it's definitely seen as less legitimate.

 

[LangfordBarrow]

Considering he hired a fuckton of lawyers to fight the purchase being made, it's pretty silly to act like he knew he was overpaying all the time and didn't care.

He ran his mouth and offered a retarded sum. Then the board of Twitter ok'd it and he suddenly had a change of heart and tried to back out of the deal. Only after it became clear that a contract had been formed and he was on the hook for his offer, did the purchase go through.

So no. He didn't do this to own the libs, and no matter how rich he is, I doubt he (or his investors) are thrilled at the idea of losing tens of billions.

Lets try this. Pretend me and you are on the opposite sides of the political spectrum. Now lets say I go to the bank and withdraw a significant portion of my savings. Then I throw all that cash in a dumpster and light it on fire. Now, be honest: Did what I do impact you in any way? Are you triggered? Are you seething with rage at all the money I just lost? Or am I just a dumbfuck for wasting my money?

I think he obviously cares about losing money but at least he was able to get other people to foot most of the bill for him. Now he owns and manipulates to his benefit maybe the largest social platform and has, if not entirely poached, at least lured most of Trump's cult to his side.

 

[LangfordBarrow]

No one is using twitter as a money base. Fucking delusional

I don't think it's a money base, it's a base of people he can manipulate, no different than Trump. I think @Cajun is a great guy but he's giving Musk way too much credit when it comes to character and moral fiber.

 

[Sweater of AV]

I think he obviously cares about losing money but at least he was able to get other people to foot most of the bill for him. Now he owns and manipulates to his benefit maybe the largest social platform and has, if not entirely poached, at least lured most of Trump's cult to his side.

You know, after reading this I was curious about what the largest social media platform is. In terms of active users, X is only #15 in the world:

List of social platforms with at least 100 million active users - Wikipedia

en.wikipedia.org

In terms of advertising reach I assume X will be a bit higher but it's still a little surprising it's that low on the list.

 

[Thepaintbucket]

Elon got carried away after his smashing success with his other ventures. Now he's trying to get Trump to soften the blow. I'm just not quite sure how he's going accomplish that.

Nothing against Elon because I can respect his hustle.

 

[ShadowRun]

General motors and CBS used to advertise there. Now it's all ads for "non woke underwear" and Sebastian Gorka's newest book about statutory rape

 

[Hog-train]

 

[Hellowhosthat]

Back in the day in the HW we had certain fighters who really had a cult following, like Shogun (and I like him too, but some of his fans were nuts). They would make threads like "Shogun's REAL record is 25-0!" then explain how every fight he lost was really a win. The more Shogun started to lose the more they drifted off into fantasy land where Shogun was really undefeated. MAGA is the political version of this.

And unfortunately for Trumper's, their guy is in the midst of a losing streak like late career BJ Penn right now, getting knocked out by random dudes in the parking lot, and he was definitely never as good as BJ to begin with.

You just lost a Sherbo by comparing Trump to Shogun.

 

[PurpleDrank]

I preferred it when people that posted CP got banned. In Elon’s Anti-Woke Twitter Landscape that shit is acceptable and you can’t get canned for it. But I might just be too woke because I dislike CP posters being platformed.

https://www.washingtonpost.com/technology/2023/07/27/twitter-csam-dom-lucre-elon-musk/

Why lie or mislead? Thats simply not the case and the article doesnt prove this claim.

 

[surgeyou1]

Not really sure why there's a celebration amongst leftists anytime it's reported that Twitter has lost money. It's not really a gotcha. Musk is on record saying he doesn't care if Twitter loses money.

He absolutely cares lol. He's just not going to say it publicly. He tried to pull out in the first place once he realized how poorly he evaluated it.

 

[CantCucktheTuck]

Why do you care?

 

[filthybliss]

Why lie or mislead? Thats simply not the case and the article doesnt prove this claim.

Whatcha mean? The account literally remained standing despite posting CP. You expect them to share the CP on there for proof? Cmon now…

 

[filthybliss]

Why do you care?

Some people invested into it because Elon bought it out.

 

[Confucamus]

I think the most amazing thing about trumper's is how you guys re-imagine every fuck up as a slam against liberals.

Musk loses billions on an obviously bad deal: "We meant to lose all that money! Take that libs!"

What's next? Donald talks about wanting to bang his daughter again: "I bet the libs are having a meltdown over how forthcoming trump is about this!"

"Trumpers" lmao you fucking dork.

Then he'd be the dumbest billionaire on the planet.

Of course he cares.. he just says that he doesn't to save face. He had a massive hissy fit over advertisers leaving in droves.

I'm sure his life changed drastically going from being worth 50 billion to 40 billion. But, anything to own the chugs!

Musk is also on record promising that his cars would be fully autonomous in just a few months...like every year since 2015. Breaking news: Elon lies.

He absolutely cares lol. He's just not going to say it publicly. He tried to pull out in the first place once he realized how poorly he evaluated it.

So you guys believe whatever you want and not anything Musk actually says. Cool, though I'm not sure sure why you'd still be so obsessed with him and how he's running X. You really need to get over this resentment you have because Musk made Twitter more inclusive. It's embarrassing.

 

[Rational Poster]

Why do you care?

Why are you so vapid?

 

[surgeyou1]

"Trumpers" lmao you fucking dork.



I'm sure his life changed drastically going from being worth 50 billion to 40 billion. But, anything to own the chugs!




So you guys believe whatever you want and not anything Musk actually says. Cool, though I'm not sure sure why you'd still be so obsessed with him and how he's running X. You really need to get over this resentment you have because Musk made Twitter more inclusive. It's embarrassing.

I believe the actual court filings. He literally tried to back out but unfortunatley he signed something called a contract

 

[GearSolidMetal]

Elon Musk Bought X For $44B, Now Fidelity Values Social Media Network Below $10B

Fidelity was one of several companies that helped Elon Musk acquire social media platform X, formerly known as Twitter, back in 2022. The financial company may have lost money on their investment in the company according to recent valuation metrics, which show the $44 billion paid by Musk may...

finance.yahoo.com

Elon Musk Bought X For $44B, Now Fidelity Values Social Media Network Below $10B​

Fidelity was one of several companies that helped Elon Musk acquire social media platform X, formerly known as Twitter, back in 2022. The financial company may have lost money on their investment in the company according to recent valuation metrics, which show the $44 billion paid by Musk may have been too high.

Fidelity owns a stake in X in the Fidelity Blue Chip Growth Fund (FBGRX) and changes the valuation of the social media company periodically to reflect valuations based on financials and peer companies.

With X facing concerns over advertising revenue, the stake valuation has often been lowered, with some months showing a higher valuation from the mutual fund. The latest fund valuation shows the Fidelity Blue Chip Growth Fund having a stake in X worth $4.19 million as of the end of August, as reported by TechCrunch. Fidelity valued the stake at $5.5 million at the end of July, marking another reduction in valuation for August.

For context, Fidelity initially invested $19.66 million in X through its mutual fund. Following the latest valuation cut, Fidelity now values its stake at 78.7% below the original investment. With its latest valuation revision, Fidelity assigns a valuation of $9.4 billion. This marks a significant decline from Musk's $44 billion purchase price.


Not surprised the value has tanked but that's more than I was expecting.

What is money to a man who could buy gold the ton and it barely but a dent into his net worth?

He's set for life.
His children are set for life.
His grandchildren are set for life.

So what does a man with all that money do?
Build influence.
And influence is a power that cannot be measured in dollars.

In most cases nowandays journalism loses money, so why did Jeff Bezos buy The Washington Post? Why does CNN still function although its ratings are in the gutter?
Why is Mark Zuckerberg not only one of the richest men in the world, but also one of the most powerful?... because of Facebook & Instagram.

All examples of the rich using their wealth to buy influence, and despite the headlines of X's supposed value being lowered its a privately owned company, so what they say its worth is irrelevant unless Musk wants to sell it.

And I doubt he's going to sell it for less than what he paid for it.