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Elon Musk has sold X, previously Twitter, for $45 billion (£34.7 billion), valuing the social media site at $33 billion (£25 billion) and carrying $12 billion (£9 billion) in debt.
The Tesla CEO purchased the social networking platform in 2022 for $44 billion (£34 billion) and marched into the company’s headquarters holding a sink in an effort to make a joke.
Many workers were shortly dismissed, and others were quickly requested to return to the duties they had just been fired from, in circumstances that would become similar to many US government employees once Donald Trump reclaimed power and took Musk into his administration.
Since purchasing Twitter, Musk has changed the name to ‘X’, created a premium membership tier for those who prefer blue ticks, and added a slew of additional features, including ‘Grok’, his own designed AI.
That’s correct, himself.
The X agreement was an all-stock transaction that transferred control of the social networking platform to xAI, a firm Musk created in 2023 to research artificial intelligence.
Musk said on his social media channel, “xAI and X’s futures are intertwined.” Today, we formally unite the data, models, compute, distribution, and talent.
“This partnership will unleash enormous possibilities by combining xAI’s outstanding AI capacity and experience with X’s vast reach.
“The merged firm will provide smarter, more meaningful experiences to billions of users while remaining faithful to our basic goal of discovering truth and developing knowledge.
“This will enable us to create a platform that not only reflects the world, but actively drives human development.
Who just acquired X from Elon Musk? That’s correct, Elon Musk did. Who just acquired X from Elon Musk? That’s correct, Elon Musk did.
Who just acquired X from Elon Musk? That’s correct, Elon Musk did.
“I’d want to appreciate everyone at xAI and X for their unwavering effort in getting us to this stage. This is just the beginning.
“Thank you for your continued partnership and support.”
In the same communication, he said that xAI was worth $80 billion (£61 billion).
Musk is the world’s wealthiest man, at least in terms of net worth, although it was revealed last month that he has lost almost £41 billion in fortune since the beginning of 2025.
Despite losing so much money in such a short period of time, owing in large part to a substantial drop in Tesla shares when many people began boycotting the electric vehicle brand because of Musk, he remains the world’s wealthiest man.
Some individuals are boycotting Tesla due to Musk’s strong relationship with the Trump administration and the controversy surrounding the salute he delivered twice on stage at Trump’s inauguration.
