Elon Musk’s X reportedly bounces back to $44B valuation

A recent report from the Financial Times reveals that the valuation of Social media site X has rebounded to $44 billion. In 2022, Elon Musk acquired the platform, previously known as Twitter, for the same amount.

Contrary to this, Bloomberg’s report suggests that X has secured nearly $1 billion from investors, valuing the company at approximately $32 billion. Musk himself partook in the equity raise, as per the report.

Despite the discrepancy in valuations, X has evidently made a significant financial recovery, considering Fidelity Investments’ estimation from last September placed X’s valuation under $10 billion.

Following Musk’s acquisition, the platform experienced a decline in revenue. Nonetheless, as reported by the Financial Times, X generated $1.2 billion in adjusted earnings for 2024, a figure comparable to pre-Musk takeover levels.