Elon Musk's X reportedly regained a $44 billion valuation. This is the same price paid by the world's wealthiest person to buy a social media site in 2022.
Formerly known as Twitter, the company was valued at $44 billion in its recent secondary finance round. In this round, investors traded existing stocks for X. Financial Times reported Tuesday, I will quote a source with knowledge of the matter.
a Another report by Bloomberg X said Musk himself took part in the funding round and raised about $1 billion in new stocks from investors.
The transaction reportedly valued X at around $32 billion, along with a debt of around $12.5 billion.
X's representatives did not immediately return requests for comment on the post.
The rating points to a major shift in Musk and his handpicked CEO Linda Jaccarino. He set up the X to be modified as “all apps” with loose content moderation standards and plans for an on-site payment platform.
X's value collapses after Musk puts the company private and starts cleaning the house with a ton of layoffs.
The billionaire tactics encouraged major corporate advertisers to leave the country on a large scale, rushing initial revenue.
In December, Fidelity Investments recently marked its stake in X 72% since the acquisition.
Other major investors include Silicon Valley heavyweights like Andreesen Horowitz and Sequoia Capital.
Tesla and SpaceX bosses, who work closely with President Trump and informally lead government efficiency, have admitted to social media platforms that he is “obviously overpaying” to buy it, but he has admitted during the transaction that he is “obviously overpaying” to buy it.
The mask overhaul includes the creation of a “premium” subscription service that allows access to “blue checkmark” verification for payment users, and an integrated AI chatbot called “Grok,” developed by his startup Xai.
X generated approximately $1.2 billion in adjusted revenue prior to interest, taxes, depreciation and amortization, a source told FT. It would equal the company's revenues to what Twitter brought before the acquisition, the outlet said, but one source explained that it had “radically adjusted” the figures.
The company holds a 25% stake in Xai. This itself is valued at $45 billion in its latest funding round.
