X is officially worth less than half of what Elon Musk paid for it
X is officially worth less than half of what Elon Musk paid for it
A steep drop from Musk’s $44 billion purchase price.
A year after he bought Twitter for $44 billion, Musk thinks the company is now worth $19 billion, a 55 percent drop.
Let's recap what he did to Twitter, I will go first:
- Changed the original name Twitter to X.
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It's obscene that someone can destroy so much value and not go bankrupt. It should not be possible.
The value only exists on paper. He halved it, he can double it. Happens all the time.
he can double it.
You must be buying all the shares you can then!
Narrator: he wasn't
he can double it
Can he, though? Or was the worth inflated beforehand?
He absolutely paid an inflated price. It was hovering around $40/share before he put in the offer of $54/share. So he and the other investors overpaid by quite a bit.
Even without the worth inflated, can HE, though?