Elon Musk's Social Media Venture X Lands Major Funding

In a significant financial boost, Elon Musk's social media platform X has successfully raised nearly $1 billion in new equity funding. This latest investment round keeps the company's valuation steady at around $32 billion, as reported by Bloomberg on Wednesday.

Highlighting the funding round, Musk himself contributed alongside other investors, including Darsana Capital Partners, known for their previous acquisition of some of X's debt. This move underscores the confidence in X's growth trajectory and its potential in the competitive social media landscape.

With the new capital, X is contemplating strategies to alleviate its existing debt, a step that could further stabilize its financial health and support its ambitious expansion plans. This development is a testament to the platform's resilience and the market's belief in its future.