this post was submitted on 31 Oct 2023
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One year after being bought for $44 billion, X is worth $19 billion (arstechnica.com)
submitted 8 months ago by ijeff@lemdro.id to c/technology@lemmy.world
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[–] BritishDuffer@lemmy.world 16 points 8 months ago

Fidelity does this because they invested in Twitter alongside Musk, and as a bank they are required by law to disclose the current value of their assets. They come up with a value of their stake, then the rest of us divide that by the percentage Fidelity owns to get the value of the company.