After Elon Musk's $44 billion acquisition of Twitter, now known as X, initial turmoil was seen with substantial advertiser departures and lower valuations. Yet, recent investor interest has surged, as evidenced by a $5.5 billion loan sale that exceeded expectations due to high demand. The financial health of X has been bolstered through strategic cost reductions, with 2024 showing improved EBITDA despite lower revenues. Executives have begun linking X's prospects with Musk's AI startup, revealing a vision for interconnected growth.
Elon Musk's $44 billion investment in Twitter, now called X, seems less detrimental as investors are eager to finance the revamped social media platform.
After initial struggles, including significant advertiser loss, X is now showcasing financial resilience, highlighted by a successful loan sale prompted by investor demand.
In 2024, X's adjusted EBITDA rose to about $1.25 billion, although revenues dropped to $2.7 billion, demonstrating significant cost reductions despite lower income.
Bankers informed investors about X's revival in financial health, while also linking the social media platform to Musk’s AI venture, xAI.
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