Unlock Digent Editor FREE
Roula Khalaf, editor of FT, chooses her favorite stories this weekly newsletter.
X Elon Musk's X has received about $ 1 billion in a new round of capital funding, which values social media to $ 44 billion, returning its award to compliance with the billionaire paid in 2022.
MuskAccording to several people who introduced this matter, the majority shareholder X was among those who bought shares. Darsana Capital, an investor who bought a debt tied to the purchase of x Musk X, and 1789 capital, a risky company whose partners belong to Donald Trump JR and invested in other Muska companies.
Fundraising, which evaluates X to $ 44 billion, including debt, comes when Musk created close ties to Donald Trump and took over the central role in the US President's attempt to reduce the size of the federal government.
Share In Tesla, an electric car manufacturer co -founded by Musk, it recently fell because some consumers avoided the brand, but parts of its private empire were strengthened.
Seven banks held their balance sheets $ 12.5 billion in loans associated with the purchase of X 2022 from 2022, known as Twitter, could interpret most of it this year, which helped disrupt the appetite.
Banks have been left only over $ 1 billion of dollars of junior debt after recent agreements.
The latest increase in its own capital will give cash to repay the junior loan, several people reported about the situation. It removes one of the most expensive X loans with which he was saddled during the purchase, and one person noticed that junior capital was about 13 percent per year.
Last year, Musk also purchased further shares in the company from existing investors. According to public submissions from Kingdom Holding Company, Saudi conglomerate and X investor, Musk bought $ 150 million shares in the company.
In recent weeks X he also made another Secondary market agreementwho also appreciated the X to $ 44 billion.
The return to the original purchase price was a symbolic goal for Musk, according to one investor in X. After taking over the group Musk, he released the platform moderation policy and many advertisers left and pushed the income below.
Publication from Fidelity Investments, X Supporter, at the end of September meant an award for a company that was less than $ 10 billion.
However, some groups, including Amazon, have recently increased marketing expenses because Muska's relationship with Trump has deepened.
The company's finances have also shown stamps of improvement, according to investors and X published $ 1.2 billion to modified income before interest, taxes, depreciation and amortization in 2024. This is roughly flat with Muska, even though the person with this matter was a significant modification.
The X award was also significantly strengthened by Musk's decision to grant investors in social media in its beginning intelligence a 25 % share at the beginning of last year. Xai skipped $ 45 billion to its foundation in 2023.
X refused to comment. 1789 and Darsan refused to express themselves.
Bloomberg first said that a bike with the property of fundraising was closed.
