Elon Musk’s X has reportedly regained a $44 billion valuation – the same price the world’s richest person paid to buy the social media site in 2022.
The company formerly known as Twitter was valued at $44 billion in a recent secondary financing round in which investors exchanged existing shares in X, the Financial Times reported on Tuesday, citing sources with knowledge of the matter.
A separate report by Bloomberg said X raised nearly $1 billion in new equity from investors – with Musk himself participating in the financing round.
The deal reportedly valued X at approximately $32 billion, alongside roughly $12.5 billion in debt.
X representatives did not immediately return The Post’s request for comment.
The valuation points to a major turnaround for Musk and his handpicked CEO Linda Yaccarino, who have set about remaking X as an “everything app” with loosened content moderation standards and plans for an onsite payment platform.
X had collapsed in value after Musk took the company private and began cleaning house with mass layoffs.
The billionaire’s tactics prompted a mass exodus of major corporate advertisers and initially caused revenue to plummet.
As recently as December, Fidelity Investments had marked down its stake in X by 72% since the acquisition.
Other key investors include Silicon Valley heavyweights like Andreessen Horowitz and Sequoia Capital.
The Tesla and SpaceX boss — who is working closely with President Trump and unofficially leads the Department of Government Efficiency — has described the social media platform as an “accelerant” for his plans to build an all-purpose app, though he admitted during the transaction that he was “obviously overpaying” to buy it.
Musk’s overhaul has included the creation of a “premium” subscription service with access to “blue checkmark” verification for paying users, as well as an integrated AI chatbot called “Grok” that was developed by his startup xAI.
X generated about $1.2 billion in adjusted earnings before interest, taxes, depreciation and amortization, sources told the FT. That would put the company’s revenue on par with what Twitter brought in before the acquisition, the outlet said – though one source described the figure as “wildly adjusted.”
The company has a 25% stake in xAI, which itself was valued at $45 billion in its most recent financing round.
This story originally appeared on NYPost
