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The SEC would likely have a field day with this, if there was still a functional SEC.
I'm not sure the SEC would obviously have jurisdiction, since neither Twitter nor xAI were public companies. The FTC might care about such a merger, however, and I suppose minority investors in xAI would have some ability to file a lawsuit if they think that X was acquired over its fair value.
Earlier quoted context omitted.
67% of Americans would not consider buying a Tesla, new poll says - https://electrek.co/2025/03/28/most-americans-would-not-cons... - March 28th, 2025 Tesla (TSLA) Q1 delivery consensus: 377,000 EVs – worst performance in 2 years - https://electrek.co/2025/03/28/tesla-tsla-q1-delivery-consen... - March 28th, 2025 Tesla is banned from Canada EV rebate program, gov freezes suspicous $43 million in rebates - https://ele…
ivewonyoung and raynier are still correct. TSLA today is higher than on 5 November 2024, less than five months ago.
Can someone please explain this with more words?
Since that time Twitter's valuation continued to drop, and by late 2024 several investors (like Fidelity) had marked the company's overall value down to as little as $9B.
Now with the recent stock market turmoil and Tesla's massive share price drop, his Twitter loan is in danger of getting margin called, and that would spell disaster for Tesla, Twitter and his own finances.
Separately Elon also started xAI, which received $6B of funding at a $40B valuation, and is in talks to raise more.
So now he is doing some financial engineering to "sell" Twitter (X) to xAI. This means (1) whoever owns shares in Twitter can mark up their books again and (2) he can raise more funding for the combined entity and use that to pay off the Twitter loan.
What is the play here? Using money invested in xAI and its inflated valuation to bail out the X investors?
Earlier quoted context omitted.
Tesla shares are higher than when Twitter was acquired. 'Continues to decline' sounds like weasel wording that the media likes to use to push a narrative that doesn't exist. Edit: Comment flagged for pointing out inconvenient facts, it's wild out there
67% of Americans would not consider buying a Tesla, new poll says - https://electrek.co/2025/03/28/most-americans-would-not-cons... - March 28th, 2025 Tesla (TSLA) Q1 delivery consensus: 377,000 EVs – worst performance in 2 years - https://electrek.co/2025/03/28/tesla-tsla-q1-delivery-consen... - March 28th, 2025 Tesla is banned from Canada EV rebate program, gov freezes suspicous $43 million in rebates - https://ele…
So he just sold himself a company he already owns for a valuation that he himself assigned to that company but that was less than what he paid for it, and he paid entirely using “money” that has a made up value and which he issues himself? Wild.
He’s literally the richest person the earth has ever known. He’s never going to suffer financially. He has countless levers of power he can pull.
The same fantasy applies to any past or current president ever spending a day in jail. He literally commands the most powerful military apparatus the world has ever seen. Even a sliver of that capability and influence ensures nobody will ever dare to try and slap some cuffs on him
March 19: "Elon Musk’s social network X has raised close to $1 billion in new equity from investors" "Musk himself participated in the equity raise" "The deal values X’s equity at roughly $32 billion." https://fortune.com/2025/03/19/elon-musk-x-twitter-equity-fu...
The SEC would likely have a field day with this, if there was still a functional SEC.
U.S. JUDGE REJECTS ELON MUSK'S BID TO DISMISS LAWSUIT ALLEGING HE DEFRAUDED TWITTER SHAREHOLDERS BY WAITING TOO LONG TO REVEAL STAKE
What's going on ?? Because he very obviously is guilty of this.
Here is the article - I get a feeling that this is very much related:
https://www.reuters.com/legal/elon-musk-must-face-fraud-laws...
This is the kind of crap we learned about when studying the "Robber Baron" era in the US public school system. Well, I mean, we were _supposed_ to learn it - evidently a lot of folks did not.
I don't see any connection to what you're talking about to this. You have to explain.
I don't know how you can get closer to the robber baron ideal than being able to distort the market like that.