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ELON MUSK STRIKES GOLD AGAIN! X VALUED AT A WHOPPING $44 BILLION AFTER $1 BILLION FUNDRAISE!
Hold Onto Your Seats! The Social Media World is SHAKING!
In a jaw-dropping twist, Elon Musk’s social media brainchild, dubbed "X," has just snagged an eye-popping $1 billion in a slick new equity funding round! This colossal cash infusion rockets the company’s valuation back to a staggering $44 billion—the same price the tech titan coughed up back in 2022!
Musk is BACK at the Helm with Some Heavy-Hitters
Sources say that Musk himself, the majority shareholder and undisputed king of X, is back in the game, buying up shares like a hungry shark in a feeding frenzy! Darsana Capital, known for snatching up part of Musk’s original buyout debt, and 1789 Capital, boasting ties to none other than Donald Trump Jr., joined this star-studded investment club.
Musk and Trump: A Power Duo for the Ages!
As if that wasn’t enough drama, Musk is cozying up to former President Donald Trump, stepping into a pivotal role in Trump’s mission to slash the federal government’s size. With their newfound alliance, the stakes are higher than ever!
Tesla’s Troubles Can’t Dim Musk’s Shine!
Meanwhile, Tesla’s stock is taking a nose-dive as consumers turn their backs on the electric automaker, but guess what? Musk’s other ventures are soaring! Seven major banks have offloaded a whopping $12.5 billion in loans tied to Musk’s Twitter acquisition this year. Talk about a financial makeover!
X Cleans House — Bye-Bye, Expensive Debt!
Thanks to this latest round of fundraising, X is ready to wipe out one of its costliest debts—one that was draining about 13% interest a year! This is massive news for the beleaguered company, giving them the cash they need to finally breathe again!
Musk Goes Big with Additional Investments!
Let’s not forget Musk’s bold move last year, snatching up $150 million in stock from Kingdom Holding Company. That’s right, the billionaire is betting big on his own creation! Recently, X’s value was confirmed again through another marketplace deal, cementing that glittering $44 billion valuation.
Back to Square One: A Symbolic Win for Musk!
Returning to the original purchase price isn’t just business; it’s a glorious badge of honor for Musk after the chaotic changes to the platform led advertisers to flee and revenues to plummet. Just a month ago, Fidelity hinted X was worth a mere $10 billion! But don’t count X out; advertising dollars from big players like Amazon are rolling back in, riding the wave of Musk’s expanding relationship with Trump!
X Shows Signs of a Major Comeback!
The financial tide is turning, with X boasting $1.2 billion in adjusted earnings before interest, taxes, depreciation, and amortization for 2024. That’s flat compared to pre-Musk figures, but with room for growth and tweaking ahead.
And Here’s The Cherry On Top!
Musk’s maverick moves have skyrocketed X’s valuation even further, thanks to a dazzling 25% stake granted in his AI startup, xAI, which is now a jaw-dropping $45 billion since its inception in 2023.
This is just the beginning! Buckle up as Musk continues to shake the tech world to its core!
photo credit: www.ft.com
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