Social media site X’s valuation has soared back to $44bn, underscoring the sharp turnaround in the company’s fortunes since its owner Elon Musk assumed the role of staunch ally to President Donald Trump.

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

Elon Musk’s X has reportedly regained a $44 billion valuation – the same price that the billionaire paid to buy the social media firm formerly known as Twitter in 2022.