According to recent reports, Twitters value has significantly decreased since Elon Musk purchased the platform in October 2022 for $44 billion. Fidelity, which owns an equity stake in Twitter, recently marked down the value of its stake to $6.6 million as of April 28, 2023, down from about $19.7 million at the end of October 2022, shortly after Musks takeover. Fidelitys new calculation "puts Twitters overall valuation at about $15 billion, or roughly a third of the deal price". However, Elon Musk himself has claimed that Twitter has lost 90% of its value and could be worth just $4 billion. It is unclear how Fidelity arrived at its new, lower valuation or whether it receives any non-public information from the company.