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

ChainCatcher news, Kingdom Holding, the investment company of Saudi Arabia, released its 2024 annual report, disclosing that a private social media major shareholder recently invested at a transaction price equal to the book value of the investment on Kingdom's balance sheet, and indicated that this shareholder is willing to purchase more minority stakes in the social media at the same valuation.

Reports cite sources stating that the social media referred to in the report is X, and the major shareholder is Musk. The report mentions that Musk used $150 million last year to increase his stake in X at a price close to what he paid during his acquisition in 2022.

According to the ownership chart submitted to Nebraska regulators in October 2023, Musk owns nearly 74% of X. (Jinshi)