Elon Musk sells X to his own xAI for $33 billion in all-stock deal
Elon Musk sells X to his own xAI for $33 billion in all-stock deal
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Elon Musk sells X to his own xAI for $33 billion in all-stock deal
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98 comments
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For reference, he bought it for $44B.
https://wikipedia.org/wiki/Acquisition_of_Twitter_by_Elon_Musk
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YAAASSSS!! I love to think of him losing money without money his influence plummets
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It's almost better than losing money. He put up a certain amount of Tesla stock as collateral for the loan (essentially) to buy Twitter.
So if Tesla's stock tanks, those creditors will be able to claw more stock away from him. If it tanks enough, he's in hostile takeover territory.
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I love it when you talk dirty 🤪
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We enter hostile takeover territory around $115
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He did it to escape Tesla stock. Because car companies are heavily cyclical.
He's succeeding not failing, unfortunately.
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98 comments