Elon Musk’s X Raises Almost $1 Billion in New Equity Funding

Elon Musk’s social network X has raised close to $1 billion in new equity from investors, according to people with knowledge of the matter — a deal that gives the company a valuation in line with when Musk took it private in 2022.

Musk himself participated in the equity raise, said some of the people, all of whom asked not to be identified discussing private information. The company is considering using some of the proceeds to pay down its remaining debt load, one of the people said.