Twitter is worth just one-third of Elon Musk’s purchase price

The bird app is currently valued at $15 billion, one-third or 33% of what Elon Musk spent to acquire it in October, according to financial corporation Fidelity.

The markdown is a new low for the social media app, considering Musk recently said Twitter's value is 50% less than the amount he paid.

The Tesla CEO had acknowledged overpaying for Twitter when he bought it for $44 billion, including $33.5 billion in equity. His investment in the platform is currently valued at $8.8 billion.

The details of Fidelity’s valuation methodology and access to non-public information are unknown.