ALBAWABA – Elon Musk’s X, the microblogging and social networking platform, recorded a valuation increase to around $44 billion in a rapid shift.
X is now valued at $44 billion
The famous social media platform saw a significant increase in value, reaching around $44 billion after being valued at less than $10 billion in September 2024.
Notably, Elon Musk, the American entrepreneur and US government contractor best known for his leadership roles at Tesla, SpaceX, xAI, The Boring Company, and X, teamed up with major investors including Andreessen Horowitz, Sequoia Capital, 8VC, Goanna Capital, and Fidelity Investments.
The platform was valued at less than $10 billion last September. After Musk joined Trump’s administration, the famous social media website experienced a significant turnaround.
Musk plans to make X 'the everything app' in an effort to diversify the platform’s revenue streams. (Shutterstock)
Musk has been raising funds for X over the past few months after purchasing the platform (formerly known as Twitter) for $44 billion.
X new plans
According to sources, Musk plans to make X 'the everything app' in an effort to diversify the platform’s revenue streams.
Earlier this year, Linda Yaccarino, CEO of X, stated that Musk aims to launch X Money, a digital wallet for payment services. The company also announced a partnership with Visa to support this initiative.
Moreover, Musk plans integrating artificial intelligence (AI) services into X through collaboration with xAI, the American public-benefit corporation focused on AI, which was founded by Musk.
