Elon Musk's social media platform X has achieved a valuation of $44 billion through a recent secondary investment deal, a significant recovery from its low of below $10 billion following Musk's tumultuous acquisition in 2022. This valuation, reported by the Financial Times, demonstrates the effectiveness of Musk's strategic cost-cutting measures and the company's rising EBITDA, estimated at $1.25 billion for 2024. X is also seeking to raise additional capital to manage existing debt, marking a pivotal turnaround in its financial health.
Investors valued Elon Musk's X at $44 billion in a secondary deal, showcasing a remarkable recovery from its previous valuation below $10 billion after Musk's takeover.
Musk's significant cost-cutting measures, initially criticized, have yielded unexpected benefits, helping X recover financially and achieve an EBITDA of $1.25 billion for 2024.
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