X is worth 72% less than the $44 billion owner Elon Musk paid for the app formerly known as Twitter, despite that Fidelity had recently marked up the value of its shares by 32.37%, according to a valuation from Fidelity.
The new valuation — which says the company formerly known as Twitter is now worth $12.32 billion — comes from a Sunday report in Axios.
Fidelity’s marked-up valuation offers something for everyone: Musk fans can say the company, which went private when the Tesla CEO took over in October 2022, is headed in the right direction, while Musk haters can gloat its worth much less than what he paid for it.