03:17 PM EDT, 03/19/2025 (MT Newswires) -- Elon Musk's social media platform X has secured nearly $1 billion in new equity, valuing the company at about $32 billion, Bloomberg reported Wednesday, citing sources with knowledge of the matter.

Musk took part in the funding as well, the sources reportedly said. The company might use part of the funds to payoff its remaining debt, the media outlet reported.

Darsana Capital Partners, which had previously purchased some of X's debt, also joined the equity round, according to Bloomberg.

X did not immediately respond to a request for comment from MT Newswires.

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