this post was submitted on 30 Sep 2024
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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)
submitted 9 months ago by GeneralInterest@lemmy.world to c/technology@lemmy.world
196 comments fedilink hide all child comments
 

"Fidelity is currently valuing X at about $9.4 billion"

I found this funny.

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[–] reksas@sopuli.xyz 36 points 9 months ago (4 children)

its worth comes from being able to influence world politics. Does he seem like someone who cares or needs money?

[–] vvvvv@lemmy.world 12 points 9 months ago (2 children)

Twitter currently has $1.5 billion/year deficit which is a lot, even for Musk, to bankroll.

[–] reksas@sopuli.xyz 7 points 9 months ago

that brightens my day a little to hear

[–] Showroom7561@lemmy.ca 2 points 9 months ago (1 children)

Source? Where is that money going?

[–] thesporkeffect@lemmy.world 4 points 9 months ago (1 children)

Interest on loans, payroll, cloud infrastructure e.g. AWS

[–] Showroom7561@lemmy.ca 2 points 9 months ago

Those are mostly operating costs, offset by revenue, but are they actually losing 1.5 billion dollars a year? I mean, I hope so, but are they really?

[–] johannesvanderwhales@lemmy.world 1 points 9 months ago

He didn't bilk Tesla shareholders into his huge pay package because he doesn't care about money.

[–] erenkoylu@lemmy.ml 1 points 9 months ago

Does he seem like someone who cares or needs money?

He got a massive load to buy Twitter, so yeah, he does.