Archive: https://archive.is/2025.03.19-050450/https://www.ft.com/content/d4616dec-c4c7-417f-8549-134710bbc5b1
Social media site X’s valuation has soared back to $44bn, underscoring the sharp turnaround in the company’s fortunes since its owner Elon Musk assumed the role of staunch ally to President Donald Trump.
Investors valued the platform at $44bn in a so-called secondary deal earlier this month, in which they exchange existing stakes in the company, according to two people with knowledge of the matter.
X was also working on raising fresh capital in a primary round, which would aim to raise about $2bn through selling new equity and be used to pay off more than $1bn of junior debt that Musk agreed to take on to finance his buyout of the company, then known as Twitter, in 2022, several people briefed on the situation said.
I’m not a stock trader so don’t know the terminology. Do I understand correctly that shareholders just say “From now on X would cost $44bn because we say that”
What it would mean is that someone bought some stock at that price/share.
There was only one person dumb enough to do that.
Well, it says investors said that, not shareholders, so that works pretty much as any market - shit is worth as much as someone is willing to pay for it