Elon Musk acquired the platform previously known as Twitter for $44 billion in 2022. According to Bloomberg, the X platform has successfully raised approximately $1 billion from investors, and as a result of this funding agreement, the company is now valued at $32 billion. Musk himself also participated in this capital-raising process.
Although there are differences between the previous and current valuations, it is clear that the X platform is undergoing a significant financial turnaround. For example, Fidelity Investments estimated in September of last year that X's value was below $10 billion.
The platform's revenue had decreased after Musk's acquisition, but in 2024, X reported $1.2 billion in adjusted earnings (before interest, taxes, depreciation, and amortization). This figure is similar to the period before Musk took over the platform, according to the Financial Times.
