Musk’s own investment has thus fallen to a value of $8.8 billion. Also: Nvidia is moving into the trillion club and tech heads are again warning of the annihilation of mankind by AI.
Good morning! While you slept, work continued elsewhere in the digital scene.
The top topics:
Twitter is according to the investment house Fidelity only worth a third of what Elon Musk paid for the social media platform. Fidelity recently downgraded the value of its own equity stake in the company. Musk himself has admitted in the past that he overpaid for Twitter, which he bought last October for $44 billion, including $33.5 billion in equity.
The billionaire himself recently said Twitter was worth less than half of what he paid for it. Fidelity had already reduced the value of its own stake in the short message service in November. At that time, the financial experts assumed a value of 44 percent of the purchase price. Deductions followed again in December and February. The Bloomberg Billionaires Index, which according to the Fidelity estimate has now also calculated the value of Musk’s investment in Twitter, came to just $8.8 billion. [Mehr bei Bloomberg]
On Founder scene: We asked an expert: which ones Healthtech-Startups do you have to know because they might grow up? We call these startups „Rising Stars“. The five insider tips from Cornelius Maaspartner at the health investor SHS, you read with us today. You will also find out why the healthcare market offers real growth potential for startups despite all the regulations. [Mehr bei Gründerszene+]
And here are the other headlines of the night:
Nvidia has made it into the exclusive club of companies worth over a trillion US dollars. Due to the boom in artificial intelligence (AI), chip demand has also increased significantly. This has pushed the shares of the US company higher over the past few days. Shares rose again on Tuesday, catapulting Nvidia’s market cap to nearly $1.026 trillion. Online retailers are also in the billionaire club Amazonthe iPhone maker Applethe software company Microsoft and the Google-Mutter Alphabet. Also the Saudi Arabian oil producer Saudi Aramco has exceeded this market value. [Mehr bei Handelsblatt]
OpenAI-CEO Sam Altman, who developed ChatGPT with his company, along with other tech executives, has again warned of the risks of AI. Together with 374 other thought leaders, he drew an apocalyptic scenario and compared the risks of AI with those of a pandemic or nuclear war. According to the experts, humanity could be annihilated. The group is concerned with regulating the new technology. [Mehr bei Wall Street Journal und The Information]
the former TheranosCEO Elizabeth Holmes began her prison sentence on Tuesday. Holmes had defrauded investors and lied about the power of their company’s blood testing technology. For this she was sentenced to eleven years in prison. Actually, Holmes was hoping not to have to go to jail while she appeals her conviction. But this request was rejected. The 39-year-old has two young children with her current partner William Evans. Her second child was born earlier in the year following her November 2022 conviction. [Mehr bei CNBC]
Redundancies: The Berlin accounting startup Taxfix is laying off 20 percent of its workforce as part of a broader restructuring. According to a report by the US medium “Techcrunch”, 120 employees have to go. The cuts were announced to the workforce on Tuesday. Taxfix grew to $1 billion in value in 2022 thanks to a popular mobile app that helps consumers with tax filing. Only two months ago it became known that the company’s Stuttgart competitor control boat takes over. [Mehr bei Techcrunch]
Tesla‘s shares rose on Tuesday after CEO Elon Musk met with China’s Foreign Minister Qin Gang. Beijing wants to flaunt its openness to foreign business, and Musk has reportedly announced further expansion of business in China. According to the minister, China’s electric vehicle market has “broad prospects for development.” He stressed that China will continue to open up and create a better market-oriented business environment for foreign companies like Tesla. According to the Chinese Foreign Ministry’s statement, Musk praised the Chinese people and China’s achievements. [Mehr bei CNBC]
Twitter is due to submit its bills to the cloud database provider several weeks before the live event with Florida Gov. Ron DeSantis Redis have not paid more. DeSantis was scheduled to use Twitter Spaces to announce his candidacy for US President, but the event was disrupted by numerous technical issues. Redis builds software that handles high-traffic internet events. [Mehr bei The Information]
Our reading tip on Gründerszene: First, the new startup of the Wunderlist founder was hyped. After a mass layoff in 2022, things are quiet Pitch become. Now there are extensive business figures for the first time Christian Rebers Powerpoint-Rivalen. [Mehr bei Gründerszene+]
And a word on our own: Today is the last day of “while you slept”. If you didn’t know, we’ve created the daily news overview for you from Australia – so you could wake up early in the morning with the most important news from the tech and startup industry. Thank you again to all our loyal readers. Greetings to you all one last time from Sydney.
Happy Wednesday!
Your Gründerszene editors
Source: https://www.businessinsider.de/gruenderszene/business/twitter-wert-deutlich-gesunken/
