6 ms·
While others certainly have a financial interest in it, it is not publicly traded and Musk solely controls it. For instance, he just unilaterally sold it to ano
by lambda 1y ago
While others certainly have a financial interest in it, it is not publicly traded and Musk solely controls it. For instance, he just unilaterally sold it to another of his privately held companies, xAI, for a valuation he made up.
Musk's privately held companies, and to a large degree Tesla as well, are all things he treats as effectively one big company that he controls; he'll take employees from one to another at will, he sells them to each other or spins them out at will in all stock transactions, etc.
The EU regulations allow seeing through such sham company boundaries that are all controlled by a single entity, and treating them as a single company.
- arandomusername 1y agoHow do you know that the shareholders of X did not have a voice in acquisition by xAI?
- lambda 1y agoIn this article: https://www.reuters.com/markets/deals/musks-xai-buys-social-media-platform-x-45-billion-2025-03-28/ https://www.reuters.com/markets/deals/musks-xai-buys-social-... "Musk did not ask investors for approval but told them that the two companies had been collaborating closely and the deal would drive deeper integration with Grok, the investor said." Now, he may have only been talking about xAI investors here, but it seems pretty clear from his actions that Musk pretty much demands full control of his companies, and if he does involve the other investor's they're likely rubber-stamping without much opportunity to push back.
- arandomusername 1y agohuh, didnt know, thats pretty crazy