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Elon Musk’s X is now worth less than a quarter of its $44 billion purchase price (techcrunch.com)

submitted 1 month ago by GeneralInterest@lemmy.world to c/technology@lemmy.world

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

I found this funny.

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[–] mynameisigglepiggle@lemmy.world 20 points 1 month ago (5 children)

Meanwhile he is on track to become the world's first trillionaire

I think the purchase was more about welding power than any financial gain

[–] dabaldeagul@feddit.nl 17 points 1 month ago

He tried to back out, I don't think any of this was about anything. He's just a dick with a weird sense of humor.

[–] KingThrillgore@lemmy.ml 7 points 1 month ago

First step to becoming a billionaire: start with 1 trillion

[–] Ilovethebomb@lemm.ee 4 points 1 month ago

Hasn't his wealth kinda flatlined lately though? X is doing terribly, Tesla is struggling a bit, I think SpaceX is at least doing well.

I don't think he's going to be a trillionaire any time soon.

[–] jaemo@sh.itjust.works 3 points 1 month ago (1 children)

Now, call me crazy, but if I was optimizing for maximum welding power, I'd start with oxy acetylene and at least try a few other options. How would buying a website even be a good start?

No wonder people are making fun of him!

[–] mynameisigglepiggle@lemmy.world 1 points 1 month ago

He needs all the welding power he can get to keep the Tesla's held together

[–] Another_earthling@lemmy.world 2 points 1 month ago

Would you not agree that he has a tool of influence with X? I see that as the main aspect of why you'd still buy twitter, even though he knew he wouldn't earn money with that.