Musk and his partners committed $33.5 billion toward the $44 billion purchase for the site in October 2022 — with that initial payout now valued at a paltry $9.38 billion.
Elon Musk and his investors in X have seen the value of the social media platform plunge 72% — resulting in $24 billion in paper losses — since the tycoon purchased the company less than two years ago, according to a report.toward the $44 billion purchase for the site formerly known as Twitter in October 2022 — with that initial payout now valued at a paltry $9.38 billion, the
When Musk was gathering his group of investors, Fidelity added a little more than $300 million to the mogul’s $44 billion takeover.4Among Musk’s partners who took the biggest financial hit from their investment in the social media company is Saudi Prince Alwaleed bin Talal al Saud, who rolled his nearly $2 billion stake in Twitter into the deal that took the firm private.
“In our books, on my books personally, we are valuing at minimum the entry level that we entered with,” Alwaleed told the newspaper.Alwaleed insisted that “we are very happy with the alliance” with Musk and that “we categorically reject any discount to company.”
Tech Elon Musk Jack Dorsey Larry Ellison Prince Alwaleed Bin Talal Social Media X (Formerly Twitter)
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Clearview AI—Controversial Facial Recognition Firm—Fined $33 Million For ‘Illegal Database’Robert Hart is a senior reporter for Forbes covering science, technology and health with a frequent focus on artificial intelligence, space, weight loss drugs and emerging technologies. He joined Forbes in 2020 and is based in London. Rob has covered everything from the billionaire space race, the health impacts of overturning Roe v.
Read more »
Dutch regulator slaps Clearview AI with $33 million fine, threatens executive liabilityThe Dutch Data Protection Authority imposed the largest fine yet against facial recognition company Clearview AI under the GDPR.
Read more »
11 Halloween Loungefly bag deals to add to your Amazon cart, for as little as $33If you or your little ones need a cute backpack to trick or treat with, these Loungefly bags are on sale at Amazon right now. The not-so-scary Disney Halloween picks are especially 'ghoul.'
Read more »
This $33 Zimmerman-Style Dress Sneakily Became a Best-SellerThis new Zimmerman-style Qikaka puff sleeve printed mini dress sneakily climbed the Amazon best-seller chart — details!
Read more »
Cowboys reportedly increase offer to CeeDee Lamb beyond $33 million per yearAs the regular season approaches, the Cowboys have reportedly increased their extension offer to star receiver CeeDee Lamb.
Read more »
I’m Restocking My Fall Shoe Wardrobe With These 8 Comfy Booties, From $33A fashion writer restocks her fall shoe wardrobe with comfy booties every fall. This season, that includes ankle boots from Toms, Steve Madden, Dr. Scholl’s, Naturalizer, and more top brands on Amazon, starting at just $33.
Read more »