Saturday, March 29, 2025

Masterful Gambit, Sir

Pretend one company you mostly own is worth a gazillion dollars and have it buy the company that might personally bankrupt you.
Elon Musk on Friday evening announced he has sold his social media company, X, to xAI, his artificial intelligence company. xAI will pay $45 billion for X, slightly more than Musk paid for it in 2022, but the new deal includes $12 billion of debt.
Keep the scheme going a bit longer! Hope none of the xAI investors are annoyed!