It’s equivalent to plugging a surge protector into itself— eNdLesS pOweR!!!
this post was submitted on 29 Mar 2025
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Except for the fraud part.
It’s astonishingly ludicrous what these assholes get away with.
He traded a liability for an asset. Distanced X from his personal assets (Tesla stock) used as collateral. xAI now has massive amounts of debt and Elon just owns the company that owns it.
Plus the $11B loss that he gets to deduct…
It's a private company, he can't.
He’s broke lmao
Keep the pressure on him. I wanna buy The Boring Company for $6 and a Hot Topic gift card
Careful with what you ask. You might get it for almost free but the debt that comes with it won't be free. I'm pretty sure your comment can be used in court to bind you to the deal too XD
Why the hell do you have a Hot Topic gift card?
Maybe it was the early 2000s, and limp bizkit just released their new album, and grandma knew he liked wearing black nail polish and spiked collars with chains.
And then it got thrown into a drawer. And now he's a financial adviser in his mid 40s, and his last parent recently died. So he had to clean out the house before he sold it. And found the hot topic gift card he forgotten about. It has $6 still loaded on it.
Trust me, he’s not. He’s just trying to amass more wealth.
play stupid games, win stupid prizes.
He said the deal values xAI at $80 billion and X at $33 billion.
Not sure Musiks ownership level in both. xAI being worth $80B is a stretch, in that it certainly doesn't have profits or revenue to justify it, and has competition that could end in it being a loser. X value is also high though. Whether it is an unfair transaction depends on which is more overvalued. Transaction is same as if xAI were value $8B and X 3.3B.
follow up on this... xAI appears to have raised $18B in funding rounds. But November 2024 was at $50B, December 2024 was $40B. X's ownership of xAI, caused its interest expense on high debt levels to rise to $1B/year (debt levels approaching close to $20B estimated)
It is a major stretch to value xAI higher than the $50B peak. Chinese open source models released have depressed overall US AI stocks, and xAI has major cash burn in implementing its model, and Musk has ever increasing brand hatred culminating in government persecution threats to anyone who could say something negative about him or his companies that becomes propaganda fuel for actual damage to his vehicles/dealerships.