According to a monthly disclosure, Fidelity’s Blue Chip Growth Fund reported that its stake in Twitter was worth $6.55 million at the end of April. That’s down from the $19.66 million the Fidelity fund said its stake was worth in October as Musk was finalizing the acquisition. The revision implies Twitter may be worth only $15 billion overall, as opposed to Musk’s $44 billion purchase price.
Under Musk’s watch, Twitter has laid off much of its staff, lost many of its advertisers and embarked on a troubled rollout of a paid subscription service and the end of traditional user verification that has led in some cases to impersonations of brands and high-profile accounts. Fidelity has repeatedly marked down Twitter’s value. Its stake was worth $8.63 million in November and then $7.8 million in January, Reuters has previously reported.