Quote:
Originally Posted by puffnstuff
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.
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From reading the article it seems a payoff to his X investors, sharing the potential profits from his AI arm, sounds like his investors are closing in and so he's trying to keep back any margin calls
When we get the 'where are they now' segment in 10 years or so and he is living in poverty with his 20 kids in a double wide it will be glorious