X is officially worth less than half of what Elon Musk paid for it
theverge.com
A year after he bought Twitter for $44 billion, Musk thinks the company is now worth $19 billion, a 55 percent drop.
Let's recap what he did to Twitter, I will go first:
- Changed the original name Twitter to X.
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The value only exists on paper. He halved it, he can double it. Happens all the time.
You must be buying all the shares you can then!
Narrator: he wasn't
Can he, though? Or was the worth inflated beforehand?
He absolutely paid an inflated price. It was hovering around $40/share before he put in the offer of $54/share. So he and the other investors overpaid by quite a bit.
Even without the worth inflated, can HE, though?