Post by Peter MoylanPost by Rich UlrichNot bad for an unelected autistic technocrat who recently forked
out over 4 billion on X-Twitter.
Umm... He paid $44 billion, not 4. I saw "$4 billion" asserted a
while back as how much X-Twitter is worth today, but this looks more
reliable - [Google, November 24, Yahoo Finance] -
According to the most recent available numbers, which we'll get to in
a bit, Musk and his co-investors have lost more than $25 billion on
their Twitter takeover. That's right.
Pundits do say that its value continues to drop.
That ill-judged investment is proving quite useful, for now.
As I understand it, Musk bought Twitter for the sole reason of removing
the ban on Trump. Did Trump start using Twitter again? I thought he had
moved over to an echo chamber of his own.
Trump has been allowed back on X-Twitter. He uses it far less than
he used to; I think he uses Truth Social more. I just read that he
has a bigger audience on X than on TS. But Musk was noted as
having a couple hundred million followers (of egregious lies) during
the end of the recent campaign.
Trump started Truth Social, whose assets consists of about $2 billion
raised by stock offering of 35% of the total shares at ~$50/share,
and Trump as person who posts. It still lacks advertisers, etc.
Had he had not been re-elected, I expected him eventually to
dissolve the company so he could walk away with most of the
billions raised -- He has boasted of coming out ahead after his
casino bankruptcies, which he forced because that offered him
the chance for that profit.
[Google]
TS Stock is now about $35. It peaked again above $50 in late October,
which resulted in this report -
Trump Media & Technology Group (TMTG) is now valued at over $10
billion after its shares more than quadrupled since late September.
Meanwhile, X Holdings, which was taken private two years ago, is
valued at around $9.4 billion, based on the most recent value the
investment group Fidelity assigned to its stake in the company.
I don't know what X has done since October, but I read that
users and advertisers have been bailing; so maybe that $4 billion
estimate (which I didn't trust) isn't far off for the current value.
--
Rich Ulrich