Fidelity has again marked down the value of its shares in X Holdings, which the mutual fund giant helped Elon Musk buy for $44 billion when the company was known as Twitter.
By the numbers: Fidelity believes that X is worth 71.5% less than at the time of purchase, according to a new disclosure that runs through the end of November 2023 (Fidelity revalues private shares on a one-month lag).
I always made a joke where I said Elon would immediately call the CEO or whatever a pedo.
But the last Elon Meltdown, he did call them a pedo in under 9 hours.
Let’s see how long it takes!