Elon Musk may be eroticism of beauty.comthe biggest beneficiary of Donald Trump's re-election, surpassing even Trump himself.
According to a new report from Bloomberg, Musk's social media platform X is currently looking to raise money from investors at a valuation of $44 billion. If that number sounds familiar, it's because that's precisely what Musk paid for the company formerly known as Twitter when he acquired it in October 2022.
In the years since Musk took over and rebranded the entire platform as X, its revenue has plummeted by nearly half of what it made as Twitter. That's billions of dollars in lost revenue.
Musk, alongside his financial backers, now seems to have overpaid for the company. One investor, Fidelity, calculatedin September of last year that its investment had lost 79 percent of its value compared to when Musk acquired it.
However, the U.S. presidential election changed the game. Musk threw his support behind Trump, establishing a PAC to back the Republican candidate with hundreds of millions of dollars. That investment paid off when Trump won. Now, Trump has appointed Musk to oversee the Department of Government Efficiency (DOGE), granting him significant influence over federal spending.
SEE ALSO: Elon Musk's DOGE.gov website can apparently be edited by anyoneMusk's companies, including Tesla and SpaceX, have secured billions of dollars in government funding over the years. However, his close relationship with President Trump is now benefiting his businesses in ways beyond government contracts.
Since Musk took over X, the platform has seen a significant loss in advertisers due to content issues and some of Musk's own controversial statements. Nevertheless, after the election, some advertisers have signaled their return. While it's unclear how much they'll spend compared to previous campaigns, notable brands like Apple have begun running ads on X for the first time in years.
Additionally, some investors in Musk's X, who were struggling to sell off their debt, recently found success. Bloombergreports that some were able to offload billions of dollars of this debt at "no discount to face value," meaning they likely got back most if not all of what they put in.
With X preparing to enable financial transactions on the platform and integrate Musk's AI company, xAI, and its Grok chatbot, the company is now seeking funds at the same $44 billion valuation Musk originally "overpaid." Thanks to Trump's election, Musk is now in a stronger position to raise the necessary capital.
Topics Social Media X/Twitter Elon Musk
Sri Lanka vs. Australia 2025 livestream: Watch 1st ODI for free
Black Friday Fire TV deals 2023: Amazon's sale is live
Worst passwords of 2023 include some familiar favorites. See the list.
The Pound Poem That Wasn't By Pound
SpaceX is so close to turning its rocket headquarters into an actual city
Amazon Black Friday TV deals 2023: Fire TVs, cheap QLEDs, and more
Duchamp’s Last Riddle by Jillian Steinhauer
Toddlers and Turtles: The 8 best and funniest tweets of the week
The Steam Machine: What Went Wrong
'Thanksgiving' review: Eli Roth's latest is a gore snore
The Ideal Smartphone for 2017
Jewish Comedy Is Serious Business
A Trailer for Jem Cohen’s ‘Chuck
How to watch UNC vs. Clemson football livestreams: kickoff time, streaming deals, and more
NYT Connections hints and answers for February 5: Tips to solve 'Connections' #605.
Thelonious Monk and Me
What Once Was Lost: Unfinding and Refinding Music History
A Trailer for Jem Cohen’s ‘Chuck
Did Elon Musk push former FAA leader out? Trump admin responds after deadly plane crash
Tinder, Match Group rolls out campaign to stop romance scams
Best Dyson deal: A refurbished Dyson Corrale straightener is just $199.99 at WalmartGet Peacock Premium for free with Instacart+NYT Strands hints, answers for January 10How Trump's tariffs could affect consumer products unveiled at CES 2025Miami Heat vs. Utah Jazz 2025 livestream: Watch NBA onlineCES 2025: The best smart glassesBest free online courses from Stanford UniversityKeys vs. Samsonova 2025 livestream: Watch Adelaide International for freeApple opens up about Siri privacy in wake of lawsuitNYT Connections Sports Edition hints and answers for January 9: Tips to solve Connections #108CES 2025: How to buy (and save $390 on) the Dreame X50 Ultra robot vacuumNYT Connections hints and answers for January 10: Tips to solve 'Connections' #579.The best and weirdest new tech of CES 2025How to unblock XVideos for freeBest Audible deal: 3 months for $0.99 per month'Silo' Season 2, episode 9: What really happened to Solo?Best robot vacuum deal: Save $370 on the roborock Q5 Pro+Ohio State vs. Texas 2025 livestream: How to watch Cotton Bowl onlineBest Amazon deals of the day: AirPods Pro 2, Ultimate Ears Megaboom 4, 50Everything Nvidia announced at CES 2025 Can a Novel Be a Fugue? Skiffle Craze: An Interview with Billy Bragg Staff Picks: Renee Gladman, Carol Rama, and Ocean Mythology Go Stand in the Corner (And Notice How Powerful It Is Over There) From Vienna with Love (And Other Mixed Emotions) Straightening out ‘Ulysses’: A Translator’s Notes How to Break the Ten Commandments (Literally) One Way Out: Memories of the Allman Brothers (And My Mailman) The Great Nadar: Mementos from a Famous French Photographer The Bookness of Not What an Abolitionist’s Letters Can Teach Us About Our Political Moment Great Moments in Literacy: The American Library Association A Note from Our Editor What Gershom Scholem’s Take on Jewish Mysticism Can Teach Us Now When Video Games Were Playable Stories The Origins of Hunter S. Thompson’s Loathing and Fear Paleoart: Visions of a Prehistoric Past On the Shelf: the Final Edition best audiobook eva?: Lorin Stein Answers Your Questions Can AI Write Pop Songs? On Music and Machine Language
2.6645s , 10170.84375 kb
Copyright © 2025 Powered by 【eroticism of beauty.com】,Wisdom Convergence Information Network