Investors have raised their valuation of X (formerly Twitter) back to $44 billion, the amount Elon Musk originally paid for the platform in 2022. This marks a sharp recovery after previous estimates suggested its worth had dropped by 80%.
According to the Financial Times, secondary market trades show increasing confidence, with Musk now seeking $2 billion in fresh funding to help reduce $1 billion in outstanding debt. The transaction would set a reference point for X’s market value as he looks to secure further investment.
Musk’s tenure has been turbulent, with sweeping job cuts, relaxed content policies, and political controversy leading to advertiser exits. Last year, Fidelity estimated its stake in the company had declined to just $9.4 billion.
Now, reports suggest revenue has bounced back to levels seen before the acquisition.
Meanwhile, Musk has taken legal action against major advertisers over a boycott, while companies like Amazon have ramped up ad spending on the platform.