X/Twitter value plummets

Fidelity Investments, which has a $19m stake in X (formerly Twitter), has devalued its investment by 71.5% following challenges that have led to a sharp drop in the platform’s advertising revenue


TWITTER/X HOLDINGS SHARE PRICE

Oct 2022: Elon Musk acquires Twitter for $44bn and takes it private. Subsequently criticised for increasing spread of disinformation and hate speech

Nov: Musk’s erratic management sees major advertisers pause campaigns

Jul 2023: Rebrands Twitter as X

Nov: Issues expletive laden rebuttal to boycotting advertisers following his retweet of antisemitic post

$80
70
60
50
40 Estimates per Fidelity valuations
30
20 
10 
0
2021	2022 	2023


Sources: TechCrunch, Axios, Chartr, CNBC 
Illustration source: Getty Images 
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