Elon Musk’s X is in talks to raise money from investors at a $44 billion valuation, according to people familiar with the matter. That is the same price that Musk paid for the social media company in 2022, when it was called Twitter.
The funding round would be a remarkable turn of fortunes for the company after Musk’s takeover and overhaul caused many users and advertisers to flee. In December, prior to the current deal talks, Fidelity Investments had marked down its Twitter stake by about 70% from the 2022 sale price.
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