Fidelity Investments has raised the valuation of Elon Musk’s social media platform, X (formerly Twitter), by an impressive 32%, according to recent filings made with the SEC. The new valuation now sits at approximately $23 billion. This significant jump comes in light of X’s ongoing restructuring efforts and its exploration of new revenue streams such as subscription services and ad revenue enhancement. The move reflects Fidelity’s confidence in the potential growth of the platform under Musk’s leadership, particularly as tech shares have rebounded recently. ‘We believe in the future of X and see potential for sustained growth,’ stated a Fidelity spokesperson. Concurrently, investment in dividend-focused exchange-traded funds (ETFs) has garnered attention, with top-performing options in the sector demonstrated effective resilience against market volatility. Investors continue to embrace dividend ETFs as a reliable source of income, particularly in uncertain economic climates. ‘Dividend ETFs not only provide consistent returns but also help in capital preservation,’ noted financial analyst Sarah Johnson. With the markets fluctuating, the rise in valuation of X and increased interest in dividend ETFs marks a significant moment for investors navigating a complex financial landscape.
Fidelity Increases Valuation of Elon Musk’s X by 32% Amidst Growing Interest in Dividend ETFs
