AssetID: 53169247
Headline: UNCAPTIONED: X Is Now Worth 55% Less Than What Elon Musk Paid for It
Caption: X Is Now Worth 55% Less, Than What Elon Musk Paid for It. Musk bought X, formerly Twitter, for $44 billion last year. Now, he thinks it's worth only $19 billion, The Verge reports. That valuation was revealed in internal documents awarding X employees company equity at $45 per share, or $19 billion. There was also a note stating that "the fair market value per share is determined by the Board of Directors based on a number of factors in a manner that complies with applicable tax rules.” The Verge points out that Musk is the company's chair, as he has not yet established a formal board. However, X might be worth even less than $19 billion. One of the company's investors, Fidelity, thinks X is only worth about $15 billion to $16 billion, The Verge reports. That is 65% less than what Musk bought it for. Fidelity invested over $300 million in Musk's takeover. According to Axios, Musk has often admitted that he paid too much for the platform. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: X,Twitter,Bought,Worth,Less,Paid,Elon Musk,Platform,Social media,Company,Documents,Board of Directors,Factors,Rules,Valuation,CEO,Sold
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