The value of Elon Musk’s social media platform, X, has reportedly rebounded to the $44 billion he originally paid for it, marking a significant turnaround since he aligned himself more closely with Donald Trump.
According to a report, investors valued the platform—formerly known as Twitter—at $44 billion (£33.9 billion) in a secondary transaction earlier this month, where existing shareholders exchanged stakes in the company.
X is also seeking to raise $2 billion in fresh capital through a primary funding round to help pay off over $1 billion in junior debt. This comes after Fidelity Investments had valued the platform at just $10 billion as recently as late September.
Musk, the world’s richest man, acquired Twitter in October 2022, famously declaring “the bird is free” as a nod to its logo before rebranding it as X the following year. Since then, he has relaxed the platform’s content moderation policies, prompting advertisers to withdraw. In response, Musk accused them of attempting to “blackmail” him, expressing his frustration in a profanity-laden speech at the New York Times DealBook Summit in November 2023.
X later filed lawsuits against a global advertising alliance and major companies such as Unilever, Mars, and CVS Health, alleging they conspired to boycott the platform and intentionally harm its revenue. “We tried peace for 2 years, now it is war,” Musk tweeted after the legal action was launched.
The renewed $44 billion valuation signals a major recovery for X and its investors, which include Andreessen Horowitz, Sequoia Capital, 8VC, Goanna Capital, and Fidelity Investments. This secondary deal will also help establish a price for the $2 billion primary fundraising round.
Lenders who helped finance Musk’s acquisition of X have also benefited, as Musk granted them a 25% stake in his artificial intelligence startup, xAI, early last year. Since then, xAI has reached a valuation of $45 billion, providing additional security for lenders and contributing to X’s improved valuation.
Meanwhile, it was revealed this week that Musk’s Tesla holdings are no longer the most valuable asset in his business empire. With Tesla’s market value declining amid investor sell-offs and political backlash, his stake in SpaceX—his private rocket and satellite company—has become his largest asset for the first time in five years, according to Forbes.
Forbes estimates Musk’s net worth at $323 billion, with his SpaceX stake valued at around $147 billion—approximately $20 billion more than his Tesla shares, which have halved in value since December.
