Social media site X’s valuation has bounced back to $44 billion, according to a new report from the Financial Times.

Elon Musk is the most followed person on X, formerly known as Twitter, as well as being the site's owner, and he is also one of the site's most prolific users, often posting dozens of times a day, or sharing other people's posts.

Elon Musk’s social network X has raised close to $1 billion in new equity from investors in a deal that values the company at roughly $32 billion, according to people with knowledge of the matter — a valuation in line with when Musk took it private in 2022.