Elon Musk’s social media platform, X (formerly Twitter), has secured nearly $1 billion in new equity funding from investors, maintaining a valuation close to its 2022 level when Musk took the company private.
According to Bloomberg, the latest deal values X’s equity at approximately $32 billion. Musk’s $44 billion acquisition of Twitter in 2022 included at least $12.5 billion in debt, meaning the new funding keeps the company’s enterprise value largely unchanged.
Sources familiar with the matter confirmed Musk’s participation in the fundraising, with reports indicating that X may use part of the funds to reduce its outstanding debt.
Investment firms such as Darsana Capital Partners, which had previously acquired some of X’s debt, and 1789 Capital, a backer of Musk’s ventures xAI and SpaceX, were among those involved in the funding round.
This development comes just weeks after X suffered a major cyberattack that disrupted its services. Musk attributed the outages to a “massive cyberattack” but did not provide further details.
