Elon Musk’s X Is Reportedly Looking To Raise $44 Billion In Valuation

When Elon Musk initially acquired Twitter, he made a series of moves that some deemed to be bizarre. For starters, Musk paid a whopping $44 billion for the company. However, despite paying that much, Musk was quick to turn Twitter inside out by firing a large number of its staff. These days, the company isn’t valued as much as Musk paid for it. However, according to a recent Bloomberg report, Musk’s X (formerly known as Twitter) is looking to raise $44 billion in valuation.

That number is pretty staggering. This is because investment firm Fidelity recently offered its own valuation of X, which it estimates is around $9.4 billion. This is a huge drop of around 80% compared to what Musk paid for the company when he acquired it all those years ago. Perhaps Musk is hoping to get his initial investment back.

However, in the wake of Musk’s other companies seeing a surge in valuation—such as Tesla, whose shares have risen by 40%, SpaceX, whose valuation has gone up to $350 billion, and xAI, which is reportedly seeking new funding of $75 billion in valuation—it seems that Musk wants to bring X up to par with the rest of his companies.

The report cites sources familiar with the matter who claim that talks are ongoing. However, things could change. This also marks the first potential round of investment for X since Musk took the company private. It will be interesting to see if Musk can get the $44 billion valuation he wants for X.

Ever since he took over the company, many users and advertisers have abandoned the platform. This has led to a rise of alternate social media platforms such as Threads, Mastodon, and Bluesky, to name a few.

Musk’s ambitions

Speaking of AI, Musk seems to be refocusing his efforts on the AI front. Previously with Sam Altman, Musk formed OpenAI, the company behind the popular ChatGPT AI model. However, Musk later left and recently, had verbal sparring sessions with Altman on social media.

Musk has been criticizing Altman’s move to convert OpenAI from a non-profit to a for-profit. Musk has since formed his own AI company, xAI. xAI recently released its latest AI model, Grok-3. However, despite that, the billionaire has assembled a group of investors and made a $97.4 billion bid on OpenAI.

OpenAI’s board has rejected the bid, but this does highlight Musk’s eagerness to advance his AI ambitions.