Connect with us

Elon Musk

Elon Musk’s X doubled its adjusted EBITDA since 2022 takeover: report

Credit: Linda Yaccarino/X

Published

on

It appears that Elon Musk’s $44 billion investment to acquire Twitter may not be his worst business decision after all. 

As per a recent report from The Wall Street Journal, investors are now clamoring to get a piece of the social media platform.

The report:

  • As per the WSJ, banks wrapped up the sale of $5.5 billion in debt backed by X on Wednesday.
  • Citing people reportedly familiar with the matter, the publication noted that the banks had initially planned to sell about $3 billion at about 95 cents on the dollar.
  • However, due to demand from investors, the deal was upsized. 
  • Ultimately, investors ended up buying the loans at 97 cents on the dollar.
  • The floating-rate debts carry an interest rate of about 11%, the WSJ reported.

X’s turnaround:

  • Twitter saw a drop in valuation following Elon Musk’s acquisition of the social media company. 
  • An exodus of advertisers immediately after Musk’s acquisition also resulted in X losing a notable portion of its advertising revenue.
  • Musk, however, trimmed down Twitter and adopted strategies that made the company less reliant on advertising revenue.
  • During a meeting last week with potential investors, bankers from Morgan Stanley and X CEO Linda Yaccarino highlighted the improving financial health of the social media platform.
  • The executives reportedly discussed the interconnection between X and Elon Musk’s artificial intelligence startup, xAI, which was valued at $50 billion last year.

X’s 2024: 

  • During the last full year prior to Musk’s takeover, Twitter reported adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of about $682 million and about $5 billion in revenue.
  • In 2024, X had an EBITDA of about $1.25 billion and annual revenue of $2.7 billion.
  • While X’s revenue is about half of what it used to be, the company’s costs are just about a quarter of what they were before.
  • As per the WSJ, investors noted that these were better figures than they had anticipated.

Musk’s comments:

  • In posts on X, Musk joked that X’s 2024 results suggest that “It’s almost like I’m good with money.”
  • Musk also noted that there is still “room for improvement.”
  • He also noted that “revenue should improve rapidly this year as the advertising boycott winds down.”

Don’t hesitate to contact us with news tips. Just send a message to simon@teslarati.com to give us a heads up.

Simon is an experienced automotive reporter with a passion for electric cars and clean energy. Fascinated by the world envisioned by Elon Musk, he hopes to make it to Mars (at least as a tourist) someday. For stories or tips--or even to just say a simple hello--send a message to his email, simon@teslarati.com or his handle on X, @ResidentSponge.

Comments

Elon Musk

Tesla owner harassed by anti-Musk driver in disturbing encounter

The Tesla driver for two years was en route to a doctor’s appointment when the incident happened.

Published

on

Credit: FOX 13 Seattle

A mother and Tesla owner from Lynnwood, WA reported that she was cut off and verbally harassed by another driver earlier this week. 

The incident was recorded through Tesla’s built-in dashcam feature.

The Incident

Leigh, a Tesla driver for two years, was en route to a doctor’s appointment when a white Subaru SUV reportedly swerved in front of her and stopped. As could be seen in the Tesla dashcam video, the Subaru driver, who was wearing a camouflage jacket and ski mask, opened his door and walked towards the Tesla owner. 

“He gets out and walks straight up to my door window. So I cracked my window, and I said, ‘What? What is the problem?’ He goes, ‘You need to sell your car. This is a Nazi car. You’re driving it. You need to sell your car,” Leigh noted in a comment to FOX 13 Seattle.

Fortunately, the mom stated that she was alone when the incident happened. Despite this, the encounter has left her shaken. “I could only see his eyes. He also had a large bag in front of him and baggy clothes. I had no idea if I was safe or not. It certainly felt very threatening and harassing,” Leigh stated.

Advertisement

Feeling Threatened

The Tesla owner stated that she and her family acquired their electric vehicle because it was convenient and good for the environment. It is then insane that such a vehicle has now become a harassment lure from other drivers. 

“Obviously, this isn’t the first time I’ve driven my car and experienced minor incidents, but to be cut off and approached in my own vehicle, in the middle of the road, at what point do I have any power? I felt very threatened. Just really sad that this is what’s happening to people. Honestly, it doesn’t affect how I believe or what I believe—it’s just the car I drive,” Leigh stated.

Rising Hostility

The Lynnwood incident aligns with a surge in aggression toward Tesla drivers and facilities, from a Las Vegas service center fire to a reported shooting at a store in Oregon. Tesla owners have also reported a growing wave of vandalism incidents against their vehicles. In response, U.S. President Donald Trump has warned that those who attack Teslas will be persecuted. The sentiments were echoed by Attorney General Pam Bondi.

Advertisement
Continue Reading

Elon Musk

Elon Musk to file lawsuit against former US Rep Jamaal Bowman: “I’ve had enough”

Bowman called the Tesla CEO a “Nazi” and a “thief” during a segment on CNN.

Published

on

MINISTÉRIO DAS COMUNICAÇÕES, CC BY 2.0 , via Wikimedia Commons

Elon Musk has announced that he is filing a lawsuit against former United States Representative Jamaal Bowman over his recent comments in a CNN segment.

Musk shared his legal intentions in a post on social media platform X.

Bowman’s Comments

During an appearance on CNN, Bowman, who made news in 2023 by triggering a fire alarm while Congress was in session, strongly criticized Elon Musk. Unlike other Musk critics, Bowman went straight for the jugular, calling the CEO a “Nazi” and a “thief.” Bowman’s comments received polarizing reactions in social media, with some users stating that such words could be used to sue for defamation.

“The American people do not trust Elon Musk. And Elon Musk is incompetent in his position. And how do we know? Because they fired tens of thousands of people, it was challenged in court, the court said people have to go back, and now the people are coming back. He’s incompetent, he’s a thief, he’s a Nazi, and people don’t trust him,” Bowman said.

“I’ve Had Enough”

In a comment to a video of Bowman’s CNN segment that was shared on X, Musk stated that the former Democratic Congressman’s words have crossed a line. “I’ve had enough. Lawsuit inbound,” Musk wrote in a post on X. Musk’s post received some support from X users, several of whom noted that it’s high time the CEO fought back against the vitriol that is consistently thrown his way.

Advertisement

Musk has been on the receiving end of protests from critics who oppose his work with U.S. President Donald Trump and the Department of Government Efficiency (DOGE). Opposition against Musk has spilled over to Tesla, resulting in stores being shot, firebombed by Molotov cocktails, vandalized, and vehicles and Superchargers being subjected to arson. Even regular Tesla owners have reported a growing wave of vandalism incidents.

Continue Reading

Elon Musk

Shark Tank’s O’Leary roasts Tim Walz over Tesla stock hate session

Published

on

Shark Tank personality and legendary investor Kevin O’Leary roasted former Vice Presidential nominee Tim Walz over his comments regarding Tesla shares earlier this week.

Walz, a Minnesota Democrat, said that he recently added Tesla (NASDAQ: TSLA) to his Apple Stocks app so he could watch shares fall as they have encountered plenty of resistance in 2025 so far. He said that anytime he needs a boost, he looks at Tesla shares, which are down 36 percent so far this year:

Walz, among many others, has been critical of Tesla and Elon Musk, especially as the CEO has helped eliminate excess government spending through the Department of Government Efficiency (DOGE).

However, Kevin O’Leary, a legendary investor, showed up on CNN after Walz’s comments to give him a bit of a reality check. O’Leary essentially called Walz out of touch for what he said about Tesla shares, especially considering Tesla made up a good portion of the Minnesota Retirement Fund.

As of June 2024, the pension fund held 1.6 million shares of Tesla stock worth over $319.6 million:

O’Leary continued to slam Walz for his comments:

“That poor guy didn’t check his portfolio and his own pension plan for the state. It’s beyond stupid what he did. What’s the matter with that guy? He doesn’t check the well-being of his own constituents.”

He even called Walz “a bozo” for what he said.

Of course, Walz’s comments are expected considering Musk’s support for the Trump Administration, as the Tesla CEO was a major contributor to the 45th President’s campaign for his second term.

However, it seems extremely out of touch that Walz made these comments without realizing the drop was potentially hurting his fund. While we don’t know if the fund has sold its entire Tesla holdings since June, as a newer, more recent report has not been released yet, it seems unlikely the automaker’s shares are not still making up some portion of the fund.

Continue Reading

Trending