Elon Musk’s X Secures Nearly $1 Billion in Fresh Equity Investment
/Article


Elon Musk's X social network has recently secured nearly $1 billion in new equity from investors, resulting in a valuation of around $32 billion, mirroring the company's value when Musk made it private in 2022. Some insiders mentioned that Musk himself invested in this equity raise, which may be used to decrease the remaining debt burden of the company. Darsana Capital Partners, previously involved in X's debt, also took part in this recent equity round. While X and Darsana did not comment on the matter, it is notable that X faced a turbulent period following Musk's acquisition and rebranding of Twitter as X, with significant downsizing and loss of advertisers. The Twitter acquisition amounted to approximately $44 billion, with a debt component of at least $12.5 billion. Musk often seeks private market support for his various ventures, such as SpaceX, valued at around $350 billion after a tender offer, and xAI, which is exploring raising funds at a $75 billion valuation.

Leave a Reply