Reported 4 months ago
Fidelity's Blue Chip Growth Fund increased its position in Elon Musk's X by 4.4% in April, valuing its stake at $5.51 million as of April 30. The fund originally gained its stake by assisting Musk in his $44 billion acquisition of what was then Twitter, and the monthly accounting provides insight into X's value as a privately held company. Since Musk's takeover in 2022, X has faced challenges in attracting advertisers, with ad sales falling short of targets. Musk's stake in X is assessed at over $7 billion, constituting a fraction of his $202.1 billion net worth.
Source: YAHOO