Redditsux@lemmy.world to Technology@lemmy.worldEnglish · 27 days agoElon Musk sells X to his own xAI for $33 billion in all-stock dealapnews.comexternal-linkmessage-square19fedilinkarrow-up1184arrow-down14cross-posted to: [email protected]
arrow-up1180arrow-down1external-linkElon Musk sells X to his own xAI for $33 billion in all-stock dealapnews.comRedditsux@lemmy.world to Technology@lemmy.worldEnglish · 27 days agomessage-square19fedilinkcross-posted to: [email protected]
minus-squareSirdubdee@lemmy.worldlinkfedilinkEnglisharrow-up57·27 days agoHe 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.
minus-squareSteve@startrek.websitelinkfedilinkEnglisharrow-up29·27 days agoPlus the $11B loss that he gets to deduct…
minus-squaresquishy@lemmy.ziplinkfedilinkEnglisharrow-up6arrow-down1·26 days agoIt’s a private company, he can’t.
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.