It is reported that Musk spent $150 million last year to increase his stake in the social platform X

Media reports that Saudi Arabian investment company Kingdom Holding has released its 2024 annual report, revealing a major shareholder of a private social media company recently invested at a transaction price equal to the book value of Kingdom's investments on its balance sheet. It also indicated that this shareholder is willing to purchase more minority shares in the social media company at the same valuation. The report cites information indicating that the social media referred to is X, and the main shareholder is Musk.

The report states that Musk used $150 million last year to increase his stake in X close to what he paid when he acquired it in 2022. According to an ownership chart submitted to Nebraska regulators in October 2023, Musk owns nearly 74% of X's shares.