Twitter's Worth Declines to One-Third of Elon Musk's Original Investment, According to Fidelity Markdown

Twitter's worth has declined to one-third of what Elon Musk paid for it, according to a recent markdown by Fidelity, which reduced the value of its equity stake in the company.

Musk acknowledged that he overpaid for Twitter, which has struggled financially since he took over, with advertising revenue declining by 50% and attempts to recoup it through Twitter Blue subscriptions failing to take off.

Musk's investment in Twitter is now valued at $8.8 billion, according to the Bloomberg Billionaires Index.

Despite Twitter's issues, Musk's wealth is up more than $48 billion this year due to a surge in Tesla's share price.