Social media platform Twitter is now worth just $15B, almost the 1/3 rd what billionaire Elon Musk paid for the social-media platform, according to Fidelity, which recently marked down the value of its equity stake in the company.

Twitter has struggled financially since Musk took over. After saddling the company with $13 billion of debt, Musk's erratic decision-making and challenges with content moderation led advertising revenue to decline by 50 percent, Musk said in March. An attempt to recoup that revenue by selling Twitter Blue subscriptions has so far failed to take off. At the end of March, less than 1 percent of Twitter's monthly users had signed up.

Elon Musk has acknowledged he overpaid for Twitter, which he bought for $44 billion, including $33.5 billion in equity. More recently, he said Twitter is worth less than half what he paid for it. It's unclear how Fidelity arrived at its new, lower valuation or whether it receives any non-public information from the company. Fidelity first reduced the value of its Twitter stake in November, to 44 percent of the purchase price. That was followed by further markdowns in December and February.

Twitter officials didn't specifically respond to a request for comment. Musk's investment in Twitter is now worth $8.8 billion, according to the Bloomberg Billionaires Index, which uses Fidelity's valuation to calculate the value of his holding. Musk spent more than $25 billion to acquire an estimated 79 percent stake in the company last year.

Social media platform Twitter is now worth just $15B, almost the 1/3 rd what billionaire Elon Musk paid for the social-media platform, according to Fidelity, which recently marked down the value of its equity stake in the company.

Twitter has struggled financially since Musk took over. After saddling the company with $13 billion of debt, Musk's erratic decision-making and challenges with content moderation led advertising revenue to decline by 50 percent, Musk said in March. An attempt to recoup that revenue by selling Twitter Blue subscriptions has so far failed to take off. At the end of March, less than 1 percent of Twitter's monthly users had signed up.

Elon Musk has acknowledged he overpaid for Twitter, which he bought for $44 billion, including $33.5 billion in equity. More recently, he said Twitter is worth less than half what he paid for it. It's unclear how Fidelity arrived at its new, lower valuation or whether it receives any non-public information from the company. Fidelity first reduced the value of its Twitter stake in November, to 44 percent of the purchase price. That was followed by further markdowns in December and February.

Twitter officials didn't specifically respond to a request for comment. Musk's investment in Twitter is now worth $8.8 billion, according to the Bloomberg Billionaires Index, which uses Fidelity's valuation to calculate the value of his holding. Musk spent more than $25 billion to acquire an estimated 79 percent stake in the company last year.