The estimated worth of Elon Musk's social media platform, X, has reportedly returned to the $44 billion that he purchased it for.

Earlier this month, investors appraised the platform at $44 billion during a secondary transaction, exchanging existing shares in the business.

This valuation marks a substantial rise from Fidelity Investments' $10 billion estimate just a few weeks ago in late September.

X is also seeking to raise $2 billion in new capital to settle over $1 billion in junior debt.

Since Musk took charge of the platform in October 2022, he has relaxed moderation policies, leading many advertisers to pause or withdraw their campaigns.

In response, the company filed a lawsuit against a global advertising consortium and several major firms, alleging they conspired unlawfully to avoid the social network.

X's revenues have declined since Musk's acquisition, though it reported adjusted profits of $1.2 billion last year.

The new valuation serves as a boost for investors, such as Andreessen Horowitz, Sequoia Capital, and Fidelity Investments.

Furthermore, institutions that provided loans to finance Musk's acquisition of X gained added security after he assigned a 25% stake in his artificial intelligence venture, xAI, to them.

xAI has since reached a valuation of $45 billion, offering new security to lenders and influencing the revised valuation of X. Meanwhile, Musk's extensive holdings in Tesla are no longer his most significant asset, as SpaceX has now become his largest asset for the first time in five years, valued at approximately $147 billion.