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Elon Musk's X, formerly Twitter, is valued at $44 billion, the same amount he paid in 2022, despite a decline in tech stocks and previous investor write-downs. The company claims $1.2 billion in EBITDA, suggesting improved efficiency, but these figures are reportedly "wildly adjusted," raising concerns about their accuracy. Valuations in private markets can be misleading, as they often rely on a limited number of transactions, unlike the robust trading seen in public markets.
Elon Musk's social media platform X has seen its valuation rebound to $44 billion, despite a recent equity raise valuing it at approximately $32 billion. Musk himself participated in this funding round, which raised nearly $1 billion. While revenue has declined since his acquisition, X reported $1.2 billion in adjusted earnings for 2024, matching pre-takeover figures.
Elon Musk’s Department of Government Efficiency has hired Adam Hoffman, a former assistant to billionaire Ken Griffin at Citadel, to assist in reducing costs within the US national security sector. Hoffman's recruitment is part of efforts to streamline operations in this area.
Justine Musk reflects on her tumultuous marriage to Elon Musk, revealing her struggles as his wife and the abrupt end of their relationship in 2008 when he filed for divorce. Just weeks later, he announced his engagement to actress Talulah Riley, prompting Justine to candidly remark on the cliché of her situation. Their early romance began at Queen's University, where Elon persistently pursued her, admiring her ambition and dreams of becoming a published author.
X is now valued at $44 billion, the same amount Elon Musk paid for the platform in 2022, despite a previous estimate suggesting its worth had plummeted to under $10 billion. Factors contributing to this rebound include a potential recovery in advertising revenue and increased investor confidence following Musk's strategic moves, including a stake in his AI startup xAI. However, Musk's fortunes are mixed, as his net worth has declined due to Tesla's market struggles amid his political pivot.
Elon Musk's social network X has successfully raised nearly $1 billion in new equity funding, valuing the company at approximately $32 billion, consistent with its valuation when Musk took it private in 2022. Musk participated in the funding round, and the company is considering using part of the proceeds to reduce its remaining debt.
Violent attacks on Tesla dealerships have surged across the U.S. and abroad, coinciding with Elon Musk's prominent role in the Trump administration. Incidents include Molotov cocktails and gunfire, particularly in left-leaning cities, as critics express their discontent with Musk's political affiliations. The White House has vowed to investigate and respond to these acts, labeling them as domestic terror.
A major Tesla investor, Ross Gerber, has called for Elon Musk to resign as CEO, citing the negative impact of Musk's divisive political ties and government role on the company's reputation and sales. Gerber stated that Tesla has been neglected under Musk's leadership, leading to a significant drop in stock prices, from nearly $480 to around $232 per share. He emphasized the urgency for new leadership to revitalize the struggling company.
Elon Musk's wealth is increasingly driven by SpaceX, which is valued at $350 billion, making his 42% stake worth $136 billion—$43 billion more than his 13% stake in Tesla, valued at $92.6 billion. Tesla's stock has plummeted over 50% since mid-December, significantly impacting Musk's net worth, which has dropped by $130 billion this year to $303 billion. Despite his financial decline, Musk remains the richest person on the Bloomberg Billionaires Index.
Elon Musk's Department of Government Efficiency (DOGE) has significantly reduced federal cybersecurity resources, raising alarms among experts about potential risks to personal data and national security. The agency's aggressive cuts, including the firing of key cybersecurity personnel and cancellation of contracts, could expose sensitive information and make systems more vulnerable to fraud and cyberattacks. Critics warn that these actions jeopardize the privacy of American citizens and the integrity of essential government services.
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