X is worth 72% less than the $44 billion owner Elon Musk paid for the app formerly known as Twitter, despite that Fidelity had recently marked up the value of its shares by 32.37%, according to a valuation from Fidelity.

Fidelity has raised the estimated value of its stake in Elon Musk’s X (formerly Twitter) by 32.37% in October, according to an Axios report. Despite the boost, the social media platform is still valued at nearly 72% less than the $44 billion Musk paid to acquire it in 2022.

Fidelity marked up the value of its holdings in Elon Musk's X by 32.37% in October, Axios reported Sunday, possibly boosted by the social media's stake in xAI.  Despite the markup, Fidelity still values the platform formerly known as Twitter at a 72% discount to the $44 billion Musk purchased it for in 2022.