Comment on [deleted]

• ericisshort@lemmy.world ⁨1⁩ ⁨year⁩ ago

  Fidelity has devalued their contribution to Elon’s investment by 65% in the past 11 months.

  source

  • Pika@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

    I know very little about finances, what does that actually mean. I expect that fidelity is the financial broker, but how are they able to devalue what they put towards the purchase of the platform after everything’s been signed and agreed to.

    source

    • ChicagoTransplant@midwest.social ⁨1⁩ ⁨year⁩ ago

      Its the current value they believe the investment has now. So if they sold today they would expect it to be 65% less than what they paid.

      source