EXCLUSIVE: If X Went Public Today, Would It Be Worth $75 Billion Or Less Than $20 Billion? Poll Says This Amount…

Billionaire Elon Musk took social media platform Twitter, now known as X, private with a $44 billion acquisition that closed in October 2022.

With news of potential new financing and growth, Benzinga polled readers to see what they thought a fair valuation for X is today.

What Happened: X’s value declined after Musk bought it. The banks that helped finance the buyout were stuck holding the debt obligations.

Those banks recently offloaded the majority of the debt at valuations discounted 10%, or near the amount Musk paid, according to Bloomberg.

Musk is reportedly looking at raising additional funds for X at a $44 billion valuation, which could help pay down debt and finance new growth areas like video and payments.

Benzinga recently asked about what the valuation of the privately held company should be.

"What do you believe is a fair valuation for X (formerly Twitter)?" Benzinga asked.

The results were:

• Less than $20 Billion: 45%
• $41-$75 Billion: 24%
• Over $75 Billion: 16%
• $21-$40 Billion: 15%

Nearly half of the voters in the poll said X should be valued at less than $20 billion, which would represent a valuation of less than half of what Musk paid for the company back in 2022.

The next highest vote-getter was the $41 to $75 billion range at 24%. Over $75 billion ranked third at 16%. This means that 40% of voters think X should be valued at $41 billion or more.

While that's good news, the majority (60%) see X valuation fairly valued at $40 billion or less today.

Are you buying when the CEOs of the Magnificent 7 are selling?

• Stay in the know with our Insider Trades page — see when leaders like Mark Zuckerberg, Elon Musk, and Jensen Huang are offloading their own shares.

Why It's Important: Since Musk took over Twitter, the social media company has struggled to have a high private valuation.

The company immediately discounted the valuation with stock awards for employees valuing the company at $20 billion.

Fidelity, who owns a stake in the company, has been discounting its carrying value of the company. In December, Fidelity valued X at $12.3 billion, or down 72% from its original buyout price.

Companies associated with Musk have witnessed increased valuations since the 2024 election thanks to the billionaire's close relationship with President Donald Trump. SpaceX, xAI and Tesla saw higher valuations to close out 2024 and in early 2025.

Musk recently said X saw record usage during the 2024 presidential election, but growth may be slowing into the new 2025 year.

A January email Musk sent to X staff highlighted his concerns for the company’s financial state.

“Our user growth is stagnant, revenue is unimpressive, and we’re barely breaking even,” Musk said in an email, as seen by The Wall Street Journal.

While Musk was unimpressed with the financial state of X, the comment of breaking even comes after years of losses for the social media company. Musk highlighted the rising influence X has in the same email.

“Over the last few months, we’ve witnessed the power of X in shaping national conversations and outcomes. We are also seeing other platforms begin to adopt our commitment to free speech and unbiased truth.”

With the potential that X’s financials have stabled with break-even earnings along with Musk’s friendship with Trump, banks could see this as the perfect time to sell off unwanted debt in X.

The report said that some investors have reached out to banks with interest in buying up debt in X due to the improving financials and public image.

X could see an improving financial situation and rise in valuation in 2025 with the return of advertisers to the platform and the pending launch of a payments platform.

Musk previously shared optimism for X and its future valuation.

“I see a clear, but difficult, path to a <$250B valuation,” Musk said previously.

Benzinga readers don't see the valuation of X there yet, but perhaps someday Musk will be proven right.

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The study was conducted by Benzinga from Feb. 19, 2025 through Feb. 21, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 98 adults.