Elon Musk's social media platform X, formerly Twitter, has reportedly rebounded in valuation to $44 billion, matching his purchase price in 2022. Following an 80% decline in worth, investors are now trading stakes at this new valuation. Musk is attempting to raise $2 billion through equity sales, aiming to address $1 billion in junior debt. This fundraising marks the first effort since Musk privatized the platform and has attracted notable investment firms. The recovery signals investor confidence despite past declines in value post-acquisition.
The new $44bn valuation reflects a recovery for investors as Musk raises funds to manage debt. This is the first fundraising since Musk's acquisition.
Musk is seeking to sell equity to alleviate $1 billion in junior debt, marking a significant moment for X since it was taken private.
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