Elon Musk's social media platform, X, formerly Twitter, is negotiating a new investment round aiming for a valuation of $44bn, matching Musk's purchase price from 2022. The discussions are preliminary, with the potential for changes or cancellation. This effort comes after challenges, including Fidelity's significant markdown of its stake. However, recent recovery signs include increased advertising revenue and successful debt sales. Musk's wider business interests also show strength, with Tesla's stock rising and SpaceX achieving a $350bn valuation, making X an attractive prospect for investors.
In discussions to secure new investment at a $44bn valuation, X, previously Twitter, faces market uncertainty and shifts in financial backing.
Musk's broader business ventures show recovery, with Tesla's stock surging over 40% and SpaceX hitting a $350bn valuation, attracting potential investors.
Fidelity Investments dramatically marked down X's stake by around 70%, raising questions about the platform's financial health amidst an unclear investment landscape.
Musk is also looking to elevate his AI venture xAI's valuation to $75bn, indicating a strategic push into high-tech investments.
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