Twitter is now worth one-third of what Elon Musk paid to buy it

In November 2022, a month after the acquisition, Fidelity downgraded its own holdings in the company by 56 per cent. In December, it further reduced its stake by another 9.6 per cent.
In February 2023, it lowered its stake once again by 7.9 per cent, thus, according to Axios, bringing its total mark down to 63.46 per cent from the total that was paid at the time of the purchase.
Ad revenue down by 50 per cent
Bloomberg reports that Musk has saddled the company with USD 13 billion of debt and that advertising revenue has gone down by 50 per cent.
The report also says that Twitter Blue subscriptions haven’t been a success as less than one per cent of the platform’s monthly users signed up for the paid blue tick and other exclusive features.
Will this affect Elon Musk’s net worth?

As per Bloomberg Billionaires Index, Elon Musk, who also owns Tesla, SpaceX and The Boring Company beside Twitter, has a net worth of USD 190 billion as on 31 May 2023.
The index estimates that his own stake in Twitter is now worth only USD 8.8 billion and he is set to lose another USD 850 million after Fidelity’s recent downgrade.
The value of his current stake is now way lower than what he paid to acquire an estimated 79 per cent stake, which was more than USD 25 million.