Elon Musk’s X raises close to $1 bn in fresh funding at $32 valuation

Elon Musk’s social network X has raised close to $1 billion in new equity from investors in a deal that values the company at roughly $32 billion, according to people with knowledge of the matter — a valuation in line with when Musk took it private in 2022.

Musk himself participated in the equity raise, said some of the people, all of whom asked not to be identified discussing private information. The company is considering using some of the proceeds to pay down its remaining debt load, one of the people said.