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.

A planned Pentagon briefing, in which Elon Musk would learn military plans for any potential war with China, did not go forward after reports in The New York Times and The Wall Street Journal.

Defense Secretary Pete Hegseth said Elon Musk visited the Pentagon but was not briefed on top secret China war plans, as the New York Times reported.

Trump’s Defense Department is poised to provide information on China to Elon Musk — a defense contractor with extensive financial interests in China.