Elon Musk’s X hits $44 Billion valuation again—What’s driving the comeback?

Social media platform X has regained its $44 billion valuation, marking a significant turnaround for the company since Elon Musk took over. The surge in valuation comes amid Musk’s growing ties with US President Donald Trump and efforts to expand X beyond social media.

According to sources familiar with the matter, investors exchanged existing stakes in the company earlier this month in a secondary deal, pushing X’s valuation back to the price Musk originally paid to acquire Twitter in 2022. The company is also working on a fresh funding round, aiming to raise $2 billion to pay off over $1 billion in junior debt tied to Musk’s acquisition.