Elon Musk’s X has raised about $1bn in a new equity funding round that values the social media company at $44bn, bringing its valuation back in line with the price the billionaire paid in 2022.
Musk, X’s majority shareholder, was among those who purchased the shares, according to several people familiar with the matter. Darsana Capital, an investor that has bought debt tied to Musk’s X buyout, and 1789 Capital, a venture firm whose partners include Donald Trump Jr and has invested in other Musk companies, also participated.
The fundraising, which values X at $44bn including debt, comes as Musk has forged close ties to Donald Trump and assumed a central role in the US president’s attempt to reduce the size of the federal government.
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