Elon Musk sells X to his own xAI for $33 billion in all-stock deal
-
Is this so the loans secured with X stock can't be called in, forcing Elon to sell the collateral to pay back the loan?
Sure seems like a bullshit business move to retain control of Tesla.
X is a private company, there's no stock.
-
For reference, he bought it for $44B.
https://wikipedia.org/wiki/Acquisition_of_Twitter_by_Elon_Musk
YAAASSSS!! I love to think of him losing money without money his influence plummets
-
-
-
This post did not contain any content.
The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt)
Lol, he actually think the value of Shitter is still $45B, as when he bought it. That's cute.
-
The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt)
Lol, he actually think the value of Shitter is still $45B, as when he bought it. That's cute.
If I recall, fidelity wrote off most of its investment in twitter less than a year after the acquisition: https://www.forbes.com/sites/tylerroush/2024/09/30/elon-musks-x-is-now-worth-around-a-fifth-of-the-44-billion-he-paid-for-it-fidelity-says/
-
The whole point of buying Twitter was to take it private. IPO for xAI would hilariously undo that.
The point was to win an election.
-
This post did not contain any content.
So what is he planning on doing? Make the worlds most corrupt porn Ai service?
-
Coincidence? I think not!
Omg I just realized 88 is also how old his melting body looks.
-
That's how I've been pronouncing it in my head when I read it.
I still say "Twitter" though because that and the gulf of Mexico are the only things I feel are okay to deadname.
I've always pronounced it gzitter
-
So what is he planning on doing? Make the worlds most corrupt porn Ai service?
-
If I recall, fidelity wrote off most of its investment in twitter less than a year after the acquisition: https://www.forbes.com/sites/tylerroush/2024/09/30/elon-musks-x-is-now-worth-around-a-fifth-of-the-44-billion-he-paid-for-it-fidelity-says/
Wrote down not off.
https://www.theguardian.com/technology/2024/jan/02/x-twitter-stock-falls-elon-musk
Debt is written off when deemed unrecoverable.
Assets can be written down when the value is lower than expected. Often this is due to more rapid depreciation of capital assets due to damage or impairments to goodwill (brand failure).
But none of that matters because private equity valuations are all bullshit and mean nothing anyways.
https://www.wallstreetoasis.com/forum/private-equity/private-equity-is-a-joke
-
This post did not contain any content.
-
This post did not contain any content.
So... computer programs can now own property. Interesting. Is this the first step in giving computers the vote?
-
YAAASSSS!! I love to think of him losing money without money his influence plummets
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.
-
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.
I love it when you talk dirty 🤪
-
He called the tesla models S3XY, and the 3 is only because Ford was gonna sue him if he used E.
Next one will be the Tesla Model 80085..
-
YAAASSSS!! I love to think of him losing money without money his influence plummets
He did it to escape Tesla stock. Because car companies are heavily cyclical.
He's succeeding not failing, unfortunately.
-
So... computer programs can now own property. Interesting. Is this the first step in giving computers the vote?
AI dystopia
-
So what is he planning on doing? Make the worlds most corrupt porn Ai service?
Companies are no longer requires to disclose that they are owned by a shell. This is the beginning of his ultimate grift.
