xAI buys X; deal values social network at $33 billion, $11B less than Musk paid.
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Elon Musk’s X has a new owner—Elon Musk’s xAI
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Translated to EN-US:
Idiot screws up one company with another.
What a moron. Oh sorry, xMoron.
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I just sold my car to myself for $1million therefore it is definitely worth $1million.
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These valuations suggest that Musk can't even write an IOU to himself without lying through his teeth.
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So this is just Musk playing shell games to suck out cash from xAI while transferring the liabilities for tanking Twitter off his personal balance sheet and onto the balance sheet of an entity he can just walk away from right?
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Hey rewriting the Social Security Administration's COBOL to java within 'a few months' is going to require a lot of bot spew!
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For everyone's sake I hope Prince Bonesaw takes it as a personal insult.
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He installed doge staff in the SEC shortly before this was announced.
I’m sure you were sarcastic, but for anyone who didn’t know.
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If he's just paying himself and wants to save face, why didn't his xAI "buy" Twitter/X for $100bn.
Also rich coming from the same administration that says "including government spending in GDP is dishonest", well your guy is juicing the GDP by artificially valuing Twitter at $33bn.
Also rich coming from the same administration that says "including government spending in GDP is dishonest", well your guy is juicing the GDP by artificially valuing Twitter at $33bn.
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Is this the same Grok that said that Musk is probably in violation of Wisconsin election law? Fun fact, Elon deleted the post less than half an hour later.
View: https://bsky.app/profile/burnseternal.bsky.social/post/3llhrmaknec2t
View: https://bsky.app/profile/burnseternal.bsky.social/post/3llhrmaknec2t
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that headline the other day about 'anonymous investors have reportedly valued X at $44 billion' is now much funnier knowing those anonymous investors were probably literally elon
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I wonder what happens to current X/Twitter employees' stocks and options. I recall hearing that the folks still voluntarily joining the company are heavily compensated in equities.
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Oh absolutely. But I'm not sure it is any more so than AI itself is.
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I'm guessing he's doing this to avoid getting margin called as Tesla stock continues to crater downwards
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Sure, Musk can take his claimed valuation to the bank and ask to use it as collateral for a loan and he might get it because of who his is. No bank will give me a $1M loan for my car. Speaking of which I wonder if the banks holding the Twitter purchase loans have been able to offload them yet (I bet not and the "rebounded value" is bullshit).
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He's trying to hide the collapse of X in terms of revenue and valuation inside of his AI hype grift, it's all a shell game to keep his net worth from collapsing and make it more difficult for the loans to be called in by the banks or the Saudis over the valuation clauses.
He's getting really desperate as his avenues of new (corporate) grift dry up
He's getting really desperate as his avenues of new (corporate) grift dry up
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No no no, I sure as fuck hope he was dumb enough to not.
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The part that gets me is that he actually valued it at $45B !!! (minus debt...)
The gall to say that this is now worth more that when he bought it.
The gall to say that this is now worth more that when he bought it.
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So Xai paid $33B for the stock and assumed $12B of debt. That means X was worth $45B, a $1B increase from when Musk bought it. Please correct the article and sub-title. See “enterprise value” for reference (https://en.m.wikipedia.org/wiki/Enterprise_value).
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Our only customer is a wholly owned subsidiary that doesnt make any money.
We are worth eleventy gazillion dollarydoos.
We are worth eleventy gazillion dollarydoos.
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Well, it is a more efficient way to lose 11 billion dollars than to spend it all on ketamine.
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J.C. Helios
Ars Scholae Palatinae
Oooh, sorry, the Trump/Musk regime forbids all forms of equity (as well as diversity and inclusiveness).
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Thus significantly surpassing previous A.I.'s trained on scraped reddit for racism, misogyny, and fascism. What a proud achievement.
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Yeah, he’s getting xAI investors to buy out his share at an inflated price.
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I'm pretty sure that's fairly common in real estate. If there aren't any good comps, the price paid is what it's worth. That's what happened when we bought our house a number of years ago. It was appraised at our purchase price because there just wasn't anything super close to it to start from.
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