According to Bloomberg News, Elon Musk’s X is in negotiations to raise $44 billion from investors. Musk paid the same amount in 2022 for X, which was then known as Twitter.
As the social network struggled to retain advertisers, Fidelity Investments reduced its stake in Twitter by over 70% from the 2022 selling price in December.
According to Bloomberg, negotiations for the fresh funding round are still in progress, and specifics may change. The business can potentially decide to end the negotiations.
READ MORE: The Webpage For Elon Musk’s DOGE Was Launched. Within Days, It Was Compromised
This would be the social network’s first round of funding since Musk turned it private.
Musk has played a major role in President Trump’s administration, and his other companies have seen a sharp increase in valuation. Since Trump’s win, Tesla’s stock has increased by almost 40%, and SpaceX’s December valuation of $350 billion was a 67% increase from June. At a $75 billion value, Musk’s artificial intelligence business, xAI, is also negotiating a $10 billion fundraising round.
Step into the ultimate entertainment experience with Radiant TV! Movies, TV series, exclusive interviews, live events, music, and more—stream anytime, anywhere. Download now on various devices including iPhone, Android, smart TVs, Apple TV, Fire Stick, and more!
