Twitter suffers a drop in its value

Twitter suffers a drop in its value

Since its acquisition by American billionaire Elon Musk last October, the social network Twitter has suffered a drop in value, according to estimates by fund manager Fidelity.

According to fund manager Fidelity, a Twitter shareholder, the “blue bird” platform would be worth only a third of the $ 44 billion requested when it was sold in October 2022.

Fidelity’s valuation is on a steady downward trend, US news agency Bloomberg reported. For Fidelity, this drop represents, in fact, 33% paid by Elon Musk.

The Twitter social network, now headed by Linda Yaccarino who was appointed by Musk on May 12, has undergone a number of changes, including the implementation of the Twitter Blue subscription, the leak of advertisers and the reduction of moderation teams. However, the reasons for this drop in value remain unclear, according to Bloomberg.

Last March, Elon Musk estimated the value of Twitter at 20 billion dollars according to an internal document consulted by American media.


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