Fidelity has written down the value of its initial investment in Twitter following its support of Elon Musk’s takeover of the platform The write-down, which reduces the value of an asset on a company’s balance sheet, resulted in a decrease of more than 50% in the carrying value of Fidelity’s investment Fidelity’s initial stake in Twitter, valued at $19.66 million in October 2022, was reduced to $8.63 million Fidelity provided $316 million towards Musk’s bid to acquire Twitter in October
