Elon Musk seems to have finally won his bet! His social network is no longer on the brink of bankruptcy and is now valued even higher than its purchase price.
Since Donald Trump's election, Musk's main company, Tesla, has experienced significant ups and downs, with a notable decline in car sales due to various boycott calls. However, his social network X.com is finally thriving.
According to the Financial Times, X is now worth over $44 billion, the same amount invested in October 2022 to acquire Twitter. This resurgence follows Trump's return to the spotlight, attracting advertisers back to the platform, which has recorded revenues of $2.7 billion for the 2024 fiscal year, with a profit of $1.25 billion. X's partnership with xAI, which develops the Grok chatbot, has also contributed to this unexpected success. The value of this partnership, estimated at $7.5 billion, positions the network for a more secure future.
