According to a new report from the Financial Times, the valuation of social media site X has risen back to $44 billion. Elon Musk acquired the platform (formerly Twitter) for $44 billion back in 2022.
However, reports from Bloomberg say that X has raised nearly $1 billion from investors, a deal that values the company at about $32 billion. According to reports, Musk himself also participated in this financing.
Although the two companies have different valuations, X has clearly turned around dramatically financially, as Fidelity Investments last September estimated X's valuation at less than $10 billion.
According to the Financial Times, the platform's revenue has declined since Musk took over, but X reported adjusted earnings (before interest, taxes, depreciation and amortization) in 2024 of US$1.2 billion, which is basically the same as the amount before Musk took over.