Official financial reports or announcements from Fidelity or X Holdings

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%.