Fidelity increases X (Twitter) valuation by 11%

axios.com

2 pointssamspenc2 comments

I'm not sure why people put so much emphasis on the valuation of X?

It's pretty clear that Musk doesn't care about the valuation and views it as a passion project.

1) He literally told advertisers to go fuck themselves

2) It represents a miniscule portion of his net worth.

This passion project was bought with loans collaterized with Tesla stock. If X goes down Musk and Tesla go down with it. So you can’t be farther from the truth. Musk needs X to recover, desperately. And valuation impacts compensation and investment.

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