Elon, Inc. Elon Consolidates His Empire
18 snips
Apr 1, 2025 
Max Chafkin, a Bloomberg Businessweek senior writer, and Dana Hull, a reporter covering Elon Musk, delve into Musk's latest mega-merger of X with XAI, transforming his tech ventures into a $100 billion powerhouse. They analyze the strategic implications of this bold move and what it means for shareholders and the future of social media in AI training. Additionally, they discuss Musk's significant political influence in the Wisconsin Supreme Court race, revealing how his financial contributions may tilt the election and impact broader market sentiments.
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X and xAI Merger
- Elon Musk merged X (formerly Twitter) with xAI, valuing the combined company at over $100 billion.
- This move, predicted by Kurt Wagner, resembles Tesla's acquisition of SolarCity.
Investor Bailout
- The merger bails out X investors who now hold stakes in a higher-valued AI startup.
- This offers them a better outlook compared to the struggling social media company.
Elon, Inc.
- Elon Musk runs his companies like a conglomerate.
- This merger resembles Tesla's acquisition of SolarCity, a struggling solar panel company.