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X Holdings' Valuation by End of 2024?
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Story
Fidelity Boosts X Holdings Value by 32.37% to $17B Amid xAI Investment
Dec 1, 2024, 06:09 PM
Fidelity Investments has marked up the value of its stake in X Holdings, owned by Elon Musk, by 32.37% in October. This represents the largest monthly increase since Fidelity helped Musk acquire the company in 2022. Despite this increase, Fidelity still values X at approximately $17 billion, which is 72% less than the $44 billion Musk paid for it. The markup is believed to be related to X's 25% stake in xAI, which also saw its valuation increase by 70%.
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