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Home » Elon Musk’s X Raises $1 Billion, Valuation Holds Steady at $32 Billion

Elon Musk’s X Raises $1 Billion, Valuation Holds Steady at $32 Billion

Joan Aimuengheuwa by Joan Aimuengheuwa
March 20, 2025
in Apps
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Elon Musk’s X Raises $1 Billion, Valuation Holds Steady at $32 Billion
Source: Getty Images

Source: Getty Images

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Elon Musk’s social media company, X (formerly Twitter), has raised nearly $1 billion in new equity funding, with its valuation at around $32 billion, the same level it held when Musk took ownership in 2022.

With the social networking platform facing financial and operational challenges, Darsana Capital Partners, an investment firm that had previously acquired a portion of X’s debt earlier this year, also contributed to the funding round. 

Another investor was 1789 Capital, a firm with a history of backing Musk’s ventures, including SpaceX and xAI.

This points to Musk’s reliance on private capital to support his business empire. SpaceX recently completed a tender offer that valued the company at around $350 billion, while xAI, Musk’s artificial intelligence startup, is reportedly seeking new funding at a valuation of $75 billion.

X’s financial structure is still complex. Musk’s $44 billion acquisition of Twitter in 2022 included at least $12.5 billion in debt, which means that despite this latest funding round, the platform’s overall enterprise value still hovers around the original purchase price.

Since Musk’s takeover, X has undergone some issues, with deep staff cuts and a wave of advertisers pulling out due to concerns over brand safety. The platform has been challenged with regaining trust among major brands that were hesitant to continue their spending.

Musk has taken an aggressive stand, filing lawsuits against major advertisers that have withheld spending. These moves, coupled with his high-profile political involvement, have added another layer of uncertainty to X’s business outlook. Some brands have returned, but the advertising landscape remains volatile.

While X’s valuation stays steady, Musk’s publicly traded company, Tesla, has been on a decline. Tesla’s stock has dropped more than 40% this year, a drop attributed to growing competition in the electric vehicle (EV) industry and Musk’s political activities, which have alienated some consumers.

The latest blow came on Tuesday when Tesla shares fell 5.3% after Chinese automaker BYD revealed a new EV that can charge at speeds comparable to refueling a petrol-powered car. This development shows more competitive pressure on Tesla, which has already been struggling with slowing sales and price cuts.

Meanwhile, X’s business outlook seems uncertain despite the recent fundraising success. Some investors are skeptical, with Fidelity Investments marking down its stake in X by 68% as of January. However, the platform has shown signs of financial stability, with reports indicating it posted $1.2 billion in adjusted earnings for 2024—matching its pre-Musk levels.

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