Twitter's value has reportedly dropped to about $15 billion, slightly more than one-third of the $44 billion that Elon Musk paid for it in late October 2022. The $15 billion valuation is based on Fidelity's latest analysis of its stake in the company.
"Fidelity Blue Chip Growth Fund's stake in Twitter was valued at $6.6 million as of April 28, according to the fund's monthly disclosure released Sunday," The Wall Street Journal wrote today. "That is down from about $19.7 million at the end of October, shortly after Musk's takeover, and the third time Fidelity has marked down the value of its Twitter stake, public disclosures show."
Fidelity's new calculation "puts Twitter's overall valuation at about $15 billion, or roughly a third of the deal price," the WSJ wrote. Twitter is identified in the Fidelity filing as X Holdings, the Musk-owned holding company that owns X Corp., which merged with Twitter. Fidelity's new valuation of Twitter was previously reported by Bloomberg.