Elon Musk’s social media platform X has successfully raised almost $1 billion in new equity funding, bringing its valuation back in line with the $44 billion enterprise value at which Musk took the company private in 2022. The latest funding round values X at approximately $32 billion and includes participation from Musk himself.
According to sources familiar with the matter, some of the proceeds from this equity round may be directed towards reducing the company’s remaining debt, which was initially part of Musk’s acquisition package involving over $12.5 billion in debt. Notable participants in this funding include Darsana Capital Partners, which previously acquired some of X’s debt, and 1789 Capital, an investment firm connected to Musk’s other ventures like xAI and SpaceX. Aliya Capital Partners also expressed their enthusiasm for participating in this round, highlighting their long-standing support for Musk and belief in his ability to drive transformative change across industries.
