Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price, according to a new estimate from investor Fidelity.
The asset manager, which helped Musk acquire the social network formerly known as Twitter, now values its stake in X at approximately $4.19 million, based on newly released disclosures from Fidelity’s Blue Chip Growth Fund. The fund has reduced the value of its holding in X by a total of 78.7% as of August end.
Sorry, Musk is really just this incompetent, and our society allows people to fail upwards in this manner.
The people at the top didn’t do anything unique to deserve being up there. The meritocracy is a lie - Musk proves it.