Elon Musk’s X is in talks to raise money from investors at a $44 billion valuation, Bloomberg News reports. Musk purchased X, formerly known as Twitter, for the same price back in 2022.
The news comes as Fidelity Investments marked down its Twitter stake back in December by around 70% from the 2022 sale price as the social network struggled to retain advertisers.
Bloomberg reports that talks for the new financing round are ongoing and details could change. It’s possible that the company could also abandon the talks.
The investment round would be the first for the social network since Musk took it private.
The valuations of Musk’s other companies have soared as he has taken a significant role in President Trump’s administration. Tesla’s shares have climbed more than 40% since Trump’s election, and SpaceX was valued at $350 billion in December. Musk’s artificial intelligence startup, xAI, is also in talks to raise $10 billion at a $75 billion valuation.
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