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Twitter's Worth Sees A Dip From the Worth Musk Paid Earlier!

By:  Tupaki Desk   |   31 May 2023 4:20 PM GMT
Twitters Worth Sees A Dip From the Worth Musk Paid Earlier!
After a lot of twists and turns Tesla boss Elon Musk finally bought Twitter. After taking over the social media giant, Elon Musk has been running it in his style, be it imposing new rules or making the employees work for longer hours. Special rooms were also provided for the employees.

But it appears like Elon Musk buying Twitter is not a good move and it's worth seeing a dip by around 33 percent. He bought Twitter by spending a big amount of $44 billion. Elon Musk bought Twitter in October 2022. Cut to a few months, the company's worth is said to have come down by $15 billion.

Now the news is that Twitter's value came down by a big percentage. Investment firm Fidelity said that the worth of Twitter company came down by around 33 percent compared to how much he paid to buy it.

Elon Musk was supported by a few investors in buying Twitter and Fidelity is one of them. Fidelity also marked down its stake value in Twitter once again and this is the third time the firm did this.

Fidelity marked down its Twitter stake value in November last year for the first time. In December and February, the company also reduced its stake in Twitter.

Elon Musk recently announced that a new female Chief Executive Officer will take over Twitter and replace Elon Musk. However, there is no clarity on who will be the person who will replace Elon Musk. As Twitter's worth is said to have come down, we have to wait and see if the new CEO can help the company.