The social app formerly known as Twitter is benefiting from major advertisers like Apple returning and cost-cutting measures imposed by Musk The post X Bounces Back to $44 Billion in Value, the Same Price Elon Musk Paid for It appeared first on TheWrap.

Billionaire Elon Musk paid $44 billion to acquire social media platform Twitter, which he later rebranded to X. The valuation of the platform has declined sharply since the 2022 purchase with Fidelity marking the value down by 72% as of December.

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.