Elon Musk’s X raises nearly $1 billion in new equity funding

​Elon Musk’s social media platform, X (formerly Twitter), has secured nearly $1 billion in new equity funding, maintaining a valuation close to when Musk privatized the company in 2022.

According to sources familiar with the matter, this funding round values X’s equity at approximately $32 billion. Musk’s initial $44 billion acquisition of Twitter in 2022 included at least $12.5 billion in debt, indicating that the latest funding round keeps the company’s enterprise value at a similar level.

Reports indicate that Musk participated in this fundraising effort, and the company may allocate part of the proceeds to reduce its existing debt. Investment firms such as Darsana Capital Partners and 1789 Capital, both of which have previously backed Musk’s ventures, were among the investors in this round.

This development follows recent reports of a significant cyberattack that disrupted X’s services. Musk acknowledged the incident, stating, “There was (still is) a massive cyberattack against X,” as users experienced outages. Previously, Musk had attributed a site crash to a cyberattack during a scheduled interview with Donald Trump, though evidence was not provided.