TaylorSwift 162,352 Posted March 28, 2025 Share Posted March 28, 2025 Elon Musk said on Friday that he had sold X, his social media company, to xAI, the artificial intelligence start-up he founded in 2023, in an unusual arrangement that may raise conflict-of-interest questions. Musk, in a post on X Friday, said that his artificial-intelligence company, xAI, has acquired X in an all-stock transaction that values X at $33 billion ($45 billion minus $12 billion in debt). The deal gives xAI a valuation of $80 billion, Musk claimed. Musk acquired Twitter in October 2022 for $44 billion and took the company private. With the sale of X to xAI, Musk is exchanging the investor base of the social network with that of his AI company (some of which the two companies have in common). Equity owners in X included Musk himself, along with Oracle founder Larry Ellison, Twitter co-founder Jack Dorsey, investor Bill Ackmanâs Pershing Square Foundation, Fidelity Investments, Saudi Prince Alwaleed bin Talalâs Kingdom Holdings Ltd., Andreessen Horowitz, Sequoia Capital, Vy Capital and Sean âDiddyâ Combs. The investors in xAI, meanwhile, include Musk, Andreessen Horowitz, Fidelity, BlackRock, Kingdom Holdings, Lightspeed Venture Partners, MGX, Morgan Stanley, Oman Investment Authority, the Qatar Investment Authority, Sequoia, Valor and Vy Capital. www.nytimes.com variety.com https://store.taylorswift.com Link to post Share on other sites More sharing options...
Jessica Germ 2,129 Posted March 28, 2025 Share Posted March 28, 2025 Now what does this all mean Link to post Share on other sites More sharing options...
IWantYourLove 1,457 Posted March 28, 2025 Share Posted March 28, 2025 Oh that title got me too excited. Iâm so disappointed. Link to post Share on other sites More sharing options...
Murakami27 8,438 Posted March 28, 2025 Share Posted March 28, 2025 Reeks of fraud Link to post Share on other sites More sharing options...
PartySick 172,478 Posted March 28, 2025 Share Posted March 28, 2025 Wtf he sold it to himself for $14 billion less than what he paid for it? I swear to god the world would be a nicer place without clowns like him. There's absolutely some fraudulent garbage happening here. Whimsical bitch Link to post Share on other sites More sharing options...
Sarah H 4,375 Posted March 28, 2025 Share Posted March 28, 2025 I'm disappointed too. I guess it was too much to hope he'd sold it to someone who would run it properly and stop it being a cesspit. Link to post Share on other sites More sharing options...
DelusionalGaga 29,717 Posted March 28, 2025 Share Posted March 28, 2025 Waiting for somebody smart to explain what this means exactly. Link to post Share on other sites More sharing options...
Red 99,106 Posted March 28, 2025 Share Posted March 28, 2025 Oh If you see me posting like crazy, I'm either bored or procrastinating. Link to post Share on other sites More sharing options...
StarstruckIllusion 53,563 Posted March 28, 2025 Share Posted March 28, 2025 17 minutes ago, Teletubby said: Elon Musk said on Friday that he had sold X, his social media company, to xAI, the artificial intelligence start-up he founded in 2023, in an unusual arrangement that may raise conflict-of-interest questions. The all-stock deal valued xAI at $80 billion and X at $30 billion, Mr. Musk said on X. The price for X is a $14 billion discount from the $44 billion that Mr. Musk paid for social media company in 2022. Both companies are privately held. https://www.nytimes.com/2025/03/28/technology/musk-x-xai.html Why would you post this useless piece of news here As if heâs suddenly lost influence over the site. Link to post Share on other sites More sharing options...
dynamite 66,566 Posted March 28, 2025 Share Posted March 28, 2025 1 minute ago, DelusionalGaga said: Waiting for somebody smart to explain what this means exactly. @Jill do you know anyone? Like a poem said by a neydy in red Link to post Share on other sites More sharing options...
Bambino 24,321 Posted March 28, 2025 Share Posted March 28, 2025 Elon selling X to Elon Link to post Share on other sites More sharing options...
PartySick 172,478 Posted March 28, 2025 Share Posted March 28, 2025 3 minutes ago, DelusionalGaga said: Waiting for somebody smart to explain what this means exactly. He sold Twitter to himself, basically. When he bought it he personally took ownership of it but now it's owned by a company that he owns and he paid himself from that company (again, that he owns) for the site. He transferred the liability to a company where it'll be easier and financially safer to dump if it fails and probably get his money back ten fold while taking $30 billion out of his company's pocket and putting it into his own pocket. A move that'll likely be written off twice on his taxes so he can funnel our money into his pockets too. Bro's got to be one of the most corrupt jackasses alive. Whimsical bitch Link to post Share on other sites More sharing options...
 Morphine Prince 109,654 Posted March 28, 2025 Share Posted March 28, 2025 I don't need evidence to know there's fraud somewhere in the details. Link to post Share on other sites More sharing options...
NemoMyName 2,188 Posted March 28, 2025 Share Posted March 28, 2025 Sounds like money laundering Link to post Share on other sites More sharing options...
Sneaky Oliver 22,973 Posted March 28, 2025 Share Posted March 28, 2025 It still feels kinda dystopian that Twitter is owned by Musk, I mean we didnât even know the previous owner, it was so irrelevant and now we canât experience social media or even internet overall without this concern Link to post Share on other sites More sharing options...
Featured Posts
Archived
This topic is now archived and is closed to further replies.