this post was submitted on 30 Sep 2024
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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)
submitted 1 month ago by GeneralInterest@lemmy.world to c/technology@lemmy.world
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"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] AHemlocksLie@lemmy.zip 12 points 1 month ago (1 children)

He didn't even want to buy Twitter, just manipulate the stock price by talking about buying it. Dumbass signed too much paperwork and waived too many rights, though, and found himself obligated to buy it anyway. Pretty sure he tried to fight it and lost.

So now he's trying to not burn all his money, but he's fucking terrible at it, so he's just becoming a laughing stock.

[–] thericofactor@sh.itjust.works 1 points 1 month ago

Exactly this. He made an offer publicly, which was accepted and legally binding. He overpaid substantially and proceeded to run the company into the ground.