Elon Muskâ is said to be following a round of fundraising that would value the company at $ 44 billion – at the same price that the billionaire paid to get the site previously known as Twitter in October 2022.
Discussions with investors still should not end and the specifics of a possible round may change, Bloomberg reported, citing sources known to the issue.
The possible measure would mark the first time Musk has raised money for the X after he received the private company after the purchase, which collapsed in value as the richest man in the world cleaned in the company.
Recently in December, Fidelity Investments had marked its shares in X with 72% since the purchase.
X Representatives did not immediately return a comment request.
The controversial changes to the X under the leadership of the muscle included comprehensive rounds of work and released content moderation rules that some users turned off and promoted an exodus of advertisers.
Musk also envelops a “Premium” subscription service that includes verification of the control account and access to its onset of artificial intelligence XAIâ ‘sgrokâ chatbot.
X has a share of approximately $ 6 billion in XAI – which is currently looking to raise money with a $ 75 billion rating. Musk’s firm competes directly with manufacturer Chatgpt Openai.
In a sign that Xâ assets were under attack, Banks led by Morgan Stanley sold a large portion of debt associated with the purchase of Muskâ last week left in their books since the sale.
Debt loading was seen as an indication that X revenues were stabilized.
Musk admitted in October 2022 that he was exceeding the excess “to buy the social media platform.
That billionaire briefly tried to withdraw from the purchase, but ultimately followed after Twitter sued him to adhere to the deal.
Possible estimation of $ 44 billion appears while Musk does not publicly fetch with Openai’s Sam Altman.
After Musk made an unwanted offer of $ 97.4 billion to buy Opennai last week, Altman responded sarcastically claiming that he would buy X for only $ 9.74 billion.
Musk had billed his Twitter arrangement as an “Accelerant” for his plans to turn X into an app.
The entire Muskâ portfolio has increased since the presidential election while investors bet that its close ties to the Trump administration will benefit its business empire.
In addition to mastery of X, he runs Tesla and Spacex.
He has often appeared alongside Trump at the White House and unofficially runs the government efficiency department, which is tasked with reducing federal waste.
Generally, the net value of muscle is currently suspending near $ 400 billion – from about $ 262 billion November 1, according to the Bloomberg billion index.
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