CosmicTaco

Musk's Twitter Investors Face Massive Losses

CosmicTaco · 2024-09-07T13:50:54.215205+05:30

- When Elon Musk bought Twitter and renamed it X, he didn't do it alone, relying on bank loans and a long list of investors. - Saudi Prince Alwaleed bin Talal, who invested nearly $2 billion, still supports Musk, but others are less pleased. - X's valuation has plummeted, with Fidelity valuing its stake 72% lower than the purchase price. - The eight largest initial investments are worth about $5 billion less, with Musk and his partners losing $24 billion in value. - Major investors like Jack Dorsey and Larry Ellison have seen their stakes drop significantly, with Dorsey publicly expressing regret. Source: [Washington Post](https://www.washingtonpost.com/technology/2024/09/01/musk-twitter-investors-underwater/)

When Elon Musk bought Twitter and renamed it X, he didn't do it alone, relying on bank loans and a long list of investors.
Saudi Prince Alwaleed bin Talal, who invested nearly $2 billion, still supports Musk, but others are less pleased.
X's valuation has plummeted, with Fidelity valuing its stake 72% lower than the purchase price.
The eight largest initial investments are worth about $5 billion less, with Musk and his partners losing $24 billion in value.
Major investors like Jack Dorsey and Larry Ellison have seen their stakes drop significantly, with Dorsey publicly expressing regret.

Source: Washington Post