Elon Musk’s X raises almost $1 billion in new equity funding
Elon Musk’s social network collected approximately one billion dollars of new stocks of investors, according to people who have knowledge of the issue – a deal that gives the company an evaluation in line with Musk in 2022.
Musk himself said to raise the shares, some people said, all of them asked not to know the discussion of private information. One person said the company is considering using some revenues to pay the remaining debt burden.
The deal is estimated by X ownership of approximately $ 32 billion. The Twitter acquisition included at least $ 12.5 billion of debt, which means that the latest donation collection has been completed by the same value of the $ 44 billion institution, such as the initial purchase of musk.
Some people said that Darsana Capital Partners, who bought some X debts earlier this year, participated in the stock tour. investment company 1789 Capital, which supported Xai and Spacex, has also invested, according to a person who is aware of this issue.
Representatives of X, Darsana and 1789 refused to comment.
Musk regularly turns into private markets to support many of its companies, including Spacex, which has completed an offer to a tender that measures the startup of about 350 billion dollars, and Xai, which was said to have delivered investors about collecting new financing with an evaluation of 75 billion dollars.
At the same time that Musk companies gained in private markets, the shares of the Tesla Inc. More than 40 % so far this year, partly due to the fact that his political emergence has been strained by some consumers on his cars. The increasing competition is also a weight on stocks. On Tuesday, Tesla sank 5.3 % in the aftermath of news that BYD Co. The Chinese has unveiled an electric car that can be directed to fuel in the gas vehicle.
After buying Musk Twitter and called it X, the company underwent a turbulent period, characterized by deep discounts and leaving advertisers. X advertising achieved great success after the acquisition shortly after many marketers fled the service, or stopped spending them, due to fears that their messages may appear alongside the inappropriate content.
Since then, musk has fought in court to try to return them. X sued several major brands to block advertising spending, claiming that its decision reaches the anti -competition behavior.
Some marketers have begun to return, although those familiar with the industry believe that the threat of legal procedures from Musk can lead these decisions, Bloomberg News said. The strong role of Musk within the Trump administration was also a worker for some marketers, who worried about being on the bad side of the billionaire.
X’s business has been recovered since president Donald Trump has been re -elected, although Fidelity Investments, an X investor, has achieved his share in the company by 68 % as of January. In addition to some returning advertisers, bankers recently sold X debts that they keep for years after buying the first Musk.
This story was originally shown on Fortune.com
2025-03-19 21:04:00
