Elon Musk's social media company X, now based in Bastrop, reportedly raises $1B

AUSTIN (ABJ) — Bastrop-headquartered social media company X has reportedly raised nearly $1 billion in equity funding, according to a Bloomberg report that cited people familiar with the fundraise.

Those sources said the new investors valued the company at about $32 billion. Elon Musk purchased the company, then called Twitter, for about $44 billion in 2022. The buyout included more than $10 billion in debt, so X's new valuation appears to be roughly in line with what Musk paid. That...