Remember when X's advertisers dropped faster than Tesla's share price? When Fidelity marked down their stake by 79%? Good times!
Turns out when you're the richest person on Earth, you can keep throwing money at your favorite $44 billion impulse purchase.
Apparently, Musk isn't done playing Charles Foster Kane.
Bloomberg reports that X just raised nearly $1 billion in new funding, with Musk himself chipping in alongside Darsana Capital Partners. The deal values the company at $32 billion — exactly what it was worth when he took it private in 2022.
As Bloomberg notes, some of this money might go toward paying down X's debt, because nothing says "successful business" quite like borrowing billions to buy a company, watching advertisers leave in droves, and then having to invest more of your own money to pay back the loans you took out to buy it.
Previously:
• Bluesky CEO taunts Musk with 'billionaire proof' design claim
