Months after the valuation of X (formerly Twitter) was estimated to have fallen by 80 percent, investors are now pegging the social media platform’s value at $44 billion, the same amount Elon Musk purchased the site for in 2022.
According to The Financial Times, investors are now exchanging stakes in the company at increased value in a secondary deal as the world’s richest man looks to raise additional capital to pay off some of the debt he financed to buy X. The Times reported that in a primary round, Musk aims to bring in $2 billion through selling equity in the company, which will be used to offset a billion dollars in junior debt.
