Earlier, the Telegram co-founder announced that his platform had turned its first profit since monetization

SpaceX and Tesla CEO Elon Musk has offered some words of praise to Telegram co-founder and CEO Pavel Durov after the Russian-born entrepreneur’s company turned a profit for the first time in its three-year history of monetization.

Durov announced the news in an X post on Monday. Describing 2024 as a “very successful year,” he explained that the privacy-focused messaging app made more than $1 billion in revenue this year, and that “we are closing the year with more than $500 million in cash reserves, not including crypto assets.”

“Well done,” Musk responded under Durov’s post.

Despite his company’s achievements, Durov has faced serious legal challenges this year. In August, he was detained after landing at a Paris airport and released on bail several days later. He faces 12 criminal charges, including complicity in distributing child pornography, drug dealing, and money laundering.

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Telegram turns profitable for first time – Durov

French prosecutors claim that Telegram’s supposedly lax moderation rules have enabled rampant criminality to flourish on the platform.

Durov testified before a French court for the first time earlier this month. The Russian national, who is also a citizen of France, the UAE, and Saint Kitts and Nevis, refused to comment on the case to reporters. He has, however, denied any wrongdoing.

Commenting in August on Durov’s detention, Kremlin spokesman Dmitry Peskov highlighted the absurdity of holding the entrepreneur accountable for crimes committed using his network. Prosecuting Durov for these crimes would be the same as French authorities arresting the heads of Renault or Citroen because “terrorists also use cars,” Peskov argued.