Elon Musk’s social media platform, X (formerly known as Twitter), has successfully raised nearly $1 billion in new equity funding, maintaining a valuation close to the one it held when Musk took the company private in 2022.
According to sources familiar with the deal, Bloomberg reported that the latest round of funding values X at approximately $32 billion.
Musk’s $44 billion acquisition of Twitter in 2022 included at least $12.5 billion in debt, and this new funding round ensures that the company’s enterprise value remains roughly the same.
The report also mentioned that Musk himself took part in the fundraising efforts, with X potentially using part of the proceeds to reduce its outstanding debt.
Sources who wished to remain anonymous confirmed Musk’s involvement, with one stating that part of the funds might be allocated to paying down the remaining debt.
In addition to Musk, Darsana Capital Partners—who had previously acquired some of X’s debt earlier this year—participated in this funding round. Also involved was 1789 Capital, an investment firm backing Musk’s ventures, including xAI and SpaceX.
This funding announcement comes just weeks after PUNCH Online reported a significant cyberattack on X that caused service disruptions. Musk confirmed the ongoing attack last Monday, noting the impact on users, and had previously blamed a cyberattack for crashing the platform during a planned interview with Donald Trump last year.
