Twitter is only worth a third of what Elon Musk paid for it, major asset manager says

• Twitter has dropped in value since Elon Musk bought the company, according to Fidelity.
• Fidelity estimated that Twitter is only worth a third of what Musk paid for it, per a Bloomberg assessment.
• The finance company owns an equity stake in Twitter but has been routinely lowering its value.

Twitter is continuing to plummet in value under Elon Musk’s leadership, according to financial-services corporation Fidelity, as reported by Bloomberg.

According to a Bloomberg assessment of the company’s recent monthly holdings report, the asset manager estimated that Twitter was only worth around $15 billion, roughly 33% of the $44 billion Elon Musk paid to acquire it in October.