Fidelity Investment's stake in X, formerly Twitter, has dramatically decreased in value from an initial $19.6 million to only $4.19 million since Elon Musk's acquisition.
Since Musk's purchase of X for $44 billion, the platform's revenue has plummeted by 50%, largely due to a significant decline in advertising revenue.
The investment firm Fidelity has consistently downgraded its investment in X this year, reflecting a 79% reduction in stake value, reversing a previous 11% bump in valuation.
Collectively, the eight largest investors in X have faced a staggering loss of $24 billion in value post Musk's acquisition, highlighting the financial impact on stakeholders.
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