Musk’s X in Talks to Raise Money at a $44 Billion Valuation
- Funds may be used to pay down some of the company’s debt load
- Billionaire has recently tapped private markets for big sums
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Elon Musk’s X is in talks to raise money from investors at a valuation of at least $44 billion. The money will be spent on initiatives such as payments and video products, and will help pay down some of the social media company’s huge debt load, according to people familiar with the matter.
If completed, the funding would indicate a remarkable turn of fortunes for X after Musk’s takeover and overhaul caused many users and advertisers to flee. A valuation of $44 billion would match the price Musk paid for the social network more than two years ago, when it was called Twitter.