Musk’s X obtains $44bn valuation in sharp turnaround

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Financial Times 18h ago

Musk’s X obtains $44bn valuation in sharp turnaround - Financial Times

Quick Summary:

Investor interest in the loans improved in the weeks following Trump’s election victory in November, given the billionaire’s proximity to the new administration as a confidant to the president and the head of the so-called Department of Government Efficiency (Doge) intent on cutting government red tape.

Another two people with knowledge of X’s finances said there were signs Musk’s cost-cutting plan for the company was working, and that revenues had been improving.

The new $44bn valuation represents a rebound for Musk and the group’s investors, including Andreessen Horowitz, Sequoia Capital, 8VC, Goanna Capital and Fidelity Investments.