Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - The ongoing X and Elon Musk Transgressions Thread

puffnstuff · 03-28-2025, 04:56 PM

https://www.reuters.com/markets/deal...on-2025-03-28/

Musk said on Friday that his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $45 billion, including $12 billion debt.

So many questions about this. The main one is wasn’t xAI, which is now apparently worth $80bn, originally part of X? So he spun it out to himself and now is using it to buy back the remaining business, mostly from himself.
This seems like an enormous scam designed to get X’s dwindling value and debts off Musk’s personal books.

03-28-2025, 04:56 PM	#6005
puffnstuff Franchise Player Join Date: Aug 2009 Location: wearing raccoons for boots Exp:	https://www.reuters.com/markets/deal...on-2025-03-28/ Musk said on Friday that his xAI has acquired X, the social media app formerly known as Twitter, in an all-stock transaction for $45 billion, including $12 billion debt. So many questions about this. The main one is wasn’t xAI, which is now apparently worth $80bn, originally part of X? So he spun it out to himself and now is using it to buy back the remaining business, mostly from himself. This seems like an enormous scam designed to get X’s dwindling value and debts off Musk’s personal books.