Elon Musk’s social media platform X has just secured nearly $1 billion in fresh funding, pushing its valuation to an impressive $32 billion. While still trailing the $44 billion Musk paid to acquire Twitter back in 2022, the recent capital raise signals a potential comeback. The company also reported an adjusted profit of $1.4 billion for 2024—fueling hopes that X might finally be finding its financial footing.
Alongside this funding milestone, Musk is steadily advancing X’s transformation into his long-promised “everything app.” Recent moves—including AI acquisitions and the upcoming X Money launch—reveal just how far Musk plans to take this platform.
Billion-Dollar Boost: A Financial Rebound for X
X’s new valuation, combined with $12.5 billion in debt, places its total enterprise value right back at Musk’s original $44 billion purchase price. On paper, this looks like a remarkable recovery. But analysts urge caution, noting that these adjusted profit numbers factor in earnings from Musk-linked ventures and conveniently sidestep costs tied to layoffs and investments like his AI company, xAI.
Still, X’s debt position has improved dramatically. Just a year ago, banks couldn’t give away the platform’s debt—even at bargain prices. By January 2025, however, Wall Street giants like Morgan Stanley had lined up buyers willing to pay 90 to 95 cents on the dollar. It was a stark reversal, showing renewed confidence in X’s ability to stabilize.
Big-name investors joined this round of funding. Darsana Capital Partners, which had previously bought some of X’s debt, came aboard, alongside 1789 Capital—known for backing both xAI and SpaceX. Their involvement reflects growing optimism around Musk’s interconnected empire of companies.
Interestingly, the timing couldn’t be more strategic. SpaceX is raising funds at a whopping $350 billion valuation, while xAI is chasing a $75 billion target—up sharply from $18 billion just months earlier. The overlap in investor pools hints at Musk’s ability to leverage one venture to boost another, all while maintaining separate operations.
X Money: The Bold Step Toward Musk’s “Everything App” Dream
While the fundraising dominates headlines, the most transformative development is yet to come. Musk’s long-awaited X Money project—a digital wallet and peer-to-peer payment system—is slated to launch in the second quarter of 2025. For Musk, this marks a critical step toward building an all-in-one super app, much like China’s WeChat.
X CEO Linda Yaccarino confirmed that X is partnering with Visa to power this ambitious new service. Once live, users can expect features like debit card-linked payments, instant bank transfers, crypto transactions, and even direct creator monetization through X Wallets. Influencers will soon have the option to store their earnings right inside the platform.
For Musk, this project is deeply personal. It revives the original vision behind his first startup, X.com—founded in 1999 to become a one-stop shop for global banking, credit, and investments. Although X.com later evolved into PayPal, Musk’s dream of creating a global financial platform was never fully realized. Now, nearly three decades later, X Money might finally bring that vision to life.
What’s Next for X?
As 2025 unfolds, X Money’s phased rollout in the U.S. takes center stage. The company plans to start with creator payouts and peer-to-peer transfers—two areas ripe for disruption. Beyond payments, X is gearing up to expand Grok’s role in curating content and integrating Hotshot’s AI-driven video technology for richer user experiences.
Global ambitions are also in play. X aims to push its payment services beyond the U.S., though regulatory hurdles could slow the pace. Still, Musk’s team remains bullish about scaling fast while complying with financial rules worldwide.
There’s no denying X has faced steep challenges since Musk’s takeover—losing advertisers, grappling with user trust issues, and enduring sharp revenue dips. Yet, raising $1 billion at a $32 billion valuation shows undeniable resilience. With strategic AI acquisitions, a bold leap into financial services, and a laser focus on becoming the “everything app,” X is back in the game.
Whether Musk’s ambitious plans will succeed depends on many factors—user growth, advertiser trust, and navigating complex regulations. But if there’s one thing clear, it’s this: X is no longer just a social platform. It’s gunning for the future of digital everything.
