The valuation is the same price Mr Musk paid for the platform in 2022, and would suggest a turn in fortunes for the company, which has seen advertisers and users step away following a string of controversies under Mr Musk’s ownership.
Elon Musk’s social media platform X is in talks with investors over raising cash that would value the site at 44 billion dollars (£34.9 billion), according to reports.
Shares in his electric car firm Tesla have risen around 40% since Mr Trump’s election, and there have also been reports that his AI start-up, xAI, is in talks over investor funding that would value it at 75 billion dollars (£59.4 billion).
As a result, many industry experts had suggested X’s estimated value had slumped well below the 44 billion dollars Mr Musk paid to acquire the platform in late 2022.
Since taking over X in 2022, Mr Musk has changed the site’s name from Twitter, dismissed the majority of its staff, dismantled its verified accounts system and replaced it with paid subscriptions, and rowed back on content moderation.
