Musk reportedly spent $150 million last year to increase his stake in social platform X

According to a report by Golden Ten, Kingdom Holding, a Saudi Arabian investment company, released its 2024 annual report, revealing that a major shareholder of a private social media platform recently invested at a transaction price equal to the book value of the investment on the Kingdom's balance sheet, and also stated that the shareholder is willing to purchase more minority stakes in the social media platform at the same valuation. The report cites sources stating that the social media referred to in the report is X, with Musk being the main shareholder. According to reports, Musk spent $150 million last year to increase his holdings of X shares at a price close to what he paid for his acquisition in 2022. According to the ownership chart submitted to Nebraska regulators in October 2023, Musk owns nearly 74% of X's shares.