Enterprise value != equity value. This is finance 101 and a bit ridiculous for the deputy editor of The Verge to be fucking up.
According to Fidelity, X’s equity is worth ~$10bn. X also has $13bn of debt on which $2bn of losses have been reserved [1]. That implies an enterprise value around $20bn.
That Fidelity gives its X stake a positive value implies it doesn’t believe Twitter will have to play by the standard rulebook when it defaults.
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Enterprise value != equity value. This is finance 101 and a bit ridiculous for the deputy editor of The Verge to be fucking up.
According to Fidelity, X’s equity is worth ~$10bn. X also has $13bn of debt on which $2bn of losses have been reserved [1]. That implies an enterprise value around $20bn.
That Fidelity gives its X stake a positive value implies it doesn’t believe Twitter will have to play by the standard rulebook when it defaults.
[1] https://www.businessinsider.com/elon-musks-lenders-expect-to...