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		</div><p>Twitter may now be worth one third of what Elon Musk paid for the social media platform just seven months ago, figures show.</p>
<p>Financial services company Fidelity has reduced the market value of its equity stake in Twitter for a third time, now putting it at 6.55 billion dollars (£5.28 billion). That is down from the nearly 20 billion dollars (£16.14 billion) Fidelity valued its stake at in October.</p>
<p>It is unclear how Fidelity came up with its valuation figures, but as a public company it is required to provide investors with updates on its holdings.</p>
<p>Because Twitter is a private company now called X Holdings, information about its finances cannot be verified.</p>
<p>Mr Musk took control of Twitter in October, after a protracted legal battle and months of uncertainty. The CEO of Tesla, who also owns SpaceX, bought Twitter for 44 billion dollars (£35.5 billion).<br />
The billionaire financed the purchase with funds including loans from a group of banks.</p>
<p>Mr Musk has said the 44 billion dollar price tag for Twitter was too high but that the company had great potential.</p>
<p>By April, Mr Musk was telling the BBC that running Twitter has been “quite painful” but that the social media company is now roughly breaking even after he acquired it late last year.</p>
<p>Mr Musk predicted at the time that Twitter could become “cash flow positive” in the current quarter “if current trends continue”.</p>
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