Elon Musk's X is worth nearly 80% less than when he bought it, Fidelity estimates | CNN Business

As of the end of August, Fidelity estimated that shares of X were worth just $4.2 million, reflecting a staggering decline of 79% from the October 2022 valuation.

Dan Ives, managing director and senior equity analyst at Wedbush Securities, stated that under Musk's ownership, 'some advertisers have expressed concerns about extreme content on the platform.'

Fidelity's new valuation implies that it believes X is now worth just $9.4 billion, a fraction of the $44 billion paid by Musk.

A recent global survey showed that a net 26% of marketers plan to decrease their spending on X next year, highlighting concerns over ad revenue.

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