Elon Musk’s social media platform, X (formerly Twitter), has raised nearly $1 billion in new equity funding, maintaining a company valuation of approximately $32 billion.
According to a Bloomberg report citing sources familiar with the deal, this valuation is consistent with the price Musk paid when he acquired the platform in 2022. The initial Twitter buyout included at least $12.5 billion in debt, meaning the latest fundraising places X’s enterprise value at roughly the same $44 billion as Musk’s original purchase.
Musk participated in the equity raise alongside other investors, including Darsana Capital Partners, which had previously acquired some of X’s debt earlier this year. Investment firm 1789 Capital, which has backed Musk’s other ventures such as xAI and SpaceX, also contributed to the funding round.
Musk has consistently turned to private markets to finance his businesses. Recently, SpaceX completed a tender offer valuing the company at approximately $350 billion, while xAI is reportedly seeking fresh funding at a $75 billion valuation.
Since Musk’s takeover of Twitter and its rebranding as X, the platform has undergone significant changes, including major workforce reductions and the loss of key advertisers. Many brands either paused or withdrew ad spending over concerns about their ads appearing alongside inappropriate content.
In response, Musk has launched legal action to win back advertisers. X is currently suing several major brands for withholding ad spending, alleging anti-competitive behavior.
While some advertisers have returned, industry insiders suggest that Musk’s legal threats and growing political influence may be factors in their decision-making.
