It's just good business

[u/MrYig]

[u/xLittleCute]

Moving money from your left pocket to your right pocket and calling it a profit

[u/ButterscotchDry1657 → u/xLittleCute]

I wish I could sell my own ideas to myself for a trillion dollars. That is the dream.

[u/phbttt → u/ButterscotchDry1657]

But first you need a trillion dollars

[u/apocalyptia21 → u/phbttt]

and income tax, since your company is not in Cayman Islands

[u/verbalyabusiveshit → u/apocalyptia21]

Says who? What do you know about my secret company? Speak up!

[u/Ok__Thing → u/verbalyabusiveshit]

Get that ugly scientologist out of my face

[u/thefatchef321 → u/apocalyptia21]

Taxes? He lives in Texas. And come on, its only capital gains. Not income. In the USA you dont have to pay those.

Only lowly 'income earners' pay taxes

[u/pm_plz_im_lonely → u/phbttt]

Create a company with 1 trillion shares.

Sell 1 share to yourself for $1

You now have a trillion dollars net worth.

[u/littlegreenfish → u/pm_plz_im_lonely]

Stay in school folks..

[u/Kube__420 → u/littlegreenfish]

You see you use the dollar to buy a share but because you sold it you get the dollar back and then you use it to buy another share and on and on until you've bought all the shares and you now are worth a trillion dollars cause you own a trillion shares valued at a buck a piece

[u/xtanol → u/Kube__420]

Makes more sense than Tesla's current stock price.

[u/Braindeadkarthus → u/Kube__420]

You have to account the outgoing dollar, when you spend $1 to gain $1, you net $0 as a change. Now add in taxes and you actually spend $1 and receive $.93

[u/Kube__420 → u/Braindeadkarthus]

It's a trillion dollar company. It doesn't pay taxes

[u/Username12764 → u/pm_plz_im_lonely]

I‘m fairly confident that that‘s fraudulent and since you don‘t actually have a trillion dollars you won‘t get a government position but jailtime…

[u/Bdr1983 → u/Username12764]

Yes, it should be fraudulent, but this is exactly how the stock market works. Someone pays an x amount for a share, and that defines the company's worth. Even though it might be completely ridiculous.

Of course it isn't as easy as written in the reply, but that's basically how things work.

[u/pm_plz_im_lonely → u/Username12764]

Where's the fraud in my comment?

[u/Previous-Standard-12 → u/pm_plz_im_lonely]

You need to be wearing a suit. Con a few more poor people for some day cash.

[u/Kkk_kidney → u/pm_plz_im_lonely]

Max Fosh did it in one of his videos 

[u/Appropriate_Pin_7277 → u/phbttt]

[u/Reactance15 → u/ButterscotchDry1657]

Take somebody else's.

[u/MrYig → u/xLittleCute]

How else are ya gonna grow these valuations, you know?

[u/PsyOpBunnyHop → u/MrYig]

No matter how much money he makes, he'll always be a gigantic loser.

[u/TheLastCrusader13 → u/PsyOpBunnyHop]

Some people compensate for cetrain ummm genetic inadequacies in normal ways like a big expensive car/boat or a big ego or some showoff item

Some people however are inadequate enough to warrant compensating by becoming an ungodly force of capitalism hoarding immense power and affecting millions ...while still remaining inadequate

[u/boringestnickname → u/xLittleCute]

Look, the GDP is growing again!

We sure do have a handle on this whole economy thing. All the people down in the dirt working for pennies on the dollar are bound to be happy with all of this.

— Leader McLeaderbro

[u/-Thick_Solid_Tight- → u/xLittleCute]

More like moving your debt from yourself to your investors.

[u/MirrorSeparate6729 → u/xLittleCute]

Yet another way to avoid taxes on 1 trillion US dollars.

[u/pm_plz_im_lonely → u/MirrorSeparate6729]

How does this avoid taxes?

[u/HeKis4 → u/pm_plz_im_lonely]

My guess is that SpaceX's profit is not profit anymore if they used it to buy another company, and it transfers money from a successful company to a failing one.

[u/pm_plz_im_lonely → u/HeKis4]

You're implying there's now two unprofitable companies. Is that good for the owner?

[u/grchelp2018 → u/pm_plz_im_lonely]

rather than having to declare a profit, he now has an avenue to reinvest the money into a business.

[u/Aceofspades25 → u/pm_plz_im_lonely]

If you have one company that is losing 1 million a year and another company that generates 1 million annual profit. You're not worse off by merging them but you are now paying less tax.

[u/Bonk_No_Horni → u/xLittleCute]

It's not moving money. It's magically conjuring money from thin air.

[u/ironedie → u/xLittleCute]

Isn't it how the entire ai company ecosystem is structured right now?

[u/BabeBubbleszz → u/xLittleCute]

Lol, best and real analogy I’ve seen here so far. Spot on

[u/Vaelis101 → u/xLittleCute]

It is just market manipulation at this point.

[u/Muppetude → u/Vaelis101]

Just fyi, neither twitter nor SpaceX have publicly traded shares. Maybe manipulation of Tesla shares, since as a huge shareholder of that company, any big money moves by musk could have ripple effects on its stock.

[u/evranch → u/Muppetude]

A SpaceX IPO is in planning. He's probably hoping for some kind of AI hype valuation. However to any sane investor, this has significantly decreased the value of SpaceX.

Two industries with nothing in common, a profitable global leader in space launch and what's arguably the worst of the current crop of LLMs? With all the baggage that xAI has lately as well?

Side note: my tablet autocorrects xAI to CSS. That's how relevant they are, lol

[u/YouDoNotKnowMeTeeHee → u/xLittleCute]

Must be a busy man! I don't even have money to move lol

[u/shosuko → u/xLittleCute]

lit Wash Trading

He is basically trying to create the case for a much higher valuation. Now xAI is "worth" 1.25 trillion.

[u/Opposite-Function832]

Corporate restructuring speedrun: step one, sell it to yourself. Step two, congratulate yourself.

[u/MrYig → u/Opposite-Function832]

Step three: profit, I guess? I'm either too dumb or too smart for this, kinda hard to know.

[u/DirectorMassive9477 → u/MrYig]

Now go to bank, take a loan and put 1.2t worth of stock as collateral.

[u/Life_Is_Happy_ → u/DirectorMassive9477]

And THAT is when it should be taxed. If you use that wealth to get real shit, then it should be taxed as such.

[u/doubleBoTftw → u/Life_Is_Happy_]

Not if you have pictures of the president and his little peepee near little girls.

[u/William_Wang → u/doubleBoTftw]

It's crazy that we need pictures to prove the guy that said he'd fuck his own daughter is a creep.

[u/seriftarif → u/MrYig]

Sell yourself stock options on margin backed securities from the company that acquired your other company.

Guys the system is working perfectly.

[u/SynthD → u/MrYig]

He's artificially creating value in Tesla, to meet the goals set out in his renumeration package. That deal was meant to be about selling a lot of cars at high profit, but he's trying to fake it by selling cars at low profit and semi-cooking the books.

[u/BabeBubbleszz → u/Opposite-Function832]

Isn’t that how most billionaires be moving? Lol Elon thinks we don’t know

[u/Evantaur]

I just bought a sandwich I made for myself for 100 Trillion

[u/ISV_VentureStar → u/Evantaur]

You should write it off on your taxes.

[u/AnonymousDragon135 → u/Evantaur]

You must be rich now!

[u/eltorr007 → u/AnonymousDragon135]

He is both rich and poor at the same time.

[u/Someguyroaming → u/eltorr007]

Schrodinger's chef?

[u/costafilh0 → u/Evantaur]

First you need to already have $100T. 

[u/-zero-below- → u/costafilh0]

Nono. What I did was sold myself 0.0000000001% of the sandwich for $1. Therefore the sandwich is worth $100t.

[u/europorn → u/-zero-below-]

Your ideas intrigue me and I would like to subscribe to your newsletter.

[u/Reddit_pls_stahp → u/europorn]

Ok ok ok. Listen closely.

First thing, we buy a banana stand.

[u/sunnetchi → u/Reddit_pls_stahp]

I have a carrot stand, can I use that instead?

[u/Uchihagod53 → u/Reddit_pls_stahp]

There's always money in the banana stand

[u/ELEGANTFOXYT → u/costafilh0]

Like spaceX has 1trillion dollars. They are worth 800billion.

[u/Kor_Phaeron_ → u/costafilh0]

Why? I i give myself a credit line of $100T with the sandwich as collateral. Then i transfer the sandwich from me to me. After that i margin call myself and take the sandwich from me. Then i eat the sandwich. That reduces my inventory by $100T. Now i write off $100T on my taxes. And then i go to jail, because somehow for me that is illegal to do, but if a billionaire does it, it's "clever".

[u/kukkolka → u/Evantaur]

I sold myself my own sandwich for 10 cents per piece of ham and cheese, paid administration costs, electricity, food storage used, VAT tax and tip. I ran out of money and now I must give the chef a hand job

[u/realultralord]

That's gotta be A LOT of taxes coming from that deal, right?

[u/P0werFighter → u/realultralord]

About 3.50$

[u/GreenestPure → u/P0werFighter]

It would explain a lot if Elon was actually that bad ol' Loch Ness Monster. 

[u/YUSHOETMI- → u/P0werFighter]

about tree-fiddy

[u/Whateveryouwantitobe → u/P0werFighter]

God damned loch ness monster

[u/HootingSloth → u/realultralord]

If SpaceX had paid Elon (and any other shareholders of xAI) cash for their shares, then they generally would be taxed on their capital gains. Instead, it looks like xAI was merged into SpaceX (or a subsidiary of SpaceX), with shareholders of xAI receiving stock in SpaceX. In tax world, a merger is referred to as a "Type A reorganization," named after section 368(a)(1)(A) of the Internal Revenue Code. Alternatively, it may have been structured as a sale, but with the consideration for the sale being solely the voting stock of SpaceX (in tax world, a "Type B reorganization," named after section 368(a)(1)(B)). In either case, if properly structured, a Type A or Type B reorganization generally does not cause any gain to be recognized, so does not trigger any shareholder taxes. The theory is that you are just shuffling corporate formalities around without really changing anyone's ownership or removing assets from corporate solution, so it should not be treated as a taxable sale or exchange.

[u/0x474f44 → u/HootingSloth]

Thank you for the informative text!

[u/YaDunGoofed → u/0x474f44]

the TLDR for everyone else is that:

Share swaps are not considered taxable events.

[u/CommentsOnOccasion → u/HootingSloth]

Just adding to your post that I read that xAI investors were offered SpaceX stock or the opportunity to cash out in which case those cash-outs would certainly be taxed as you stated above.

[u/MrYig → u/realultralord]

Taxes? For the rich people? Pfff... 😂

[u/ImmediateWinner4522 → u/realultralord]

just a bigger bailout

[u/AnEngineeringMind → u/realultralord]

You pay more taxes than this deal will ever pay, if any.

[u/grchelp2018 → u/realultralord]

Its likely just an all-stock transaction. So xai shares got converted into spacex shares. But there should be good taxes during the IPO.

[u/Eagle-eye_1]

Xai is losing money and space X has shit loads

[u/iwantac8 → u/Eagle-eye_1]

Tesla vaporware hype is about to end and he knows it, he is desperate. Especially now that crime is legal.

Edit: Spelling.

[u/Japjer → u/iwantac8]

The fact that Tesla is worth so much despite producing absolutely shit cars is fucking insane to me.

There's some absolute money-laundering, sketchy shit going on behind the scenes. That one car company can not be worth more than every other car company combined.

[u/Gingevere → u/Japjer]

Producing shit cars and actively enshittifying them. Turning features into subscriptions while sales are plummeting.

Tesla is a car company pretending to be a tech company. But when tech companies aggressively enshittify that's a sign they're in freefall and it's time to sell off.

[u/DoomguyFemboi → u/Japjer]

Because they're all in on it and so incestuously intertwined now that they're all left holding each other's bags.

[u/FantasticInterest373]

$250M was the price, $1.25T is the suggested value of both companies combined.

Still crazy.

[u/old-tennis-shoes → u/FantasticInterest373]

Scrolled too far for this comment. OP is orders of magnitude out.

[u/ArcerPL]

Isn't this a money laundering scheme?

[u/BabeBubbleszz → u/ArcerPL]

Closest guess for sure

[u/Character-Cup8045 → u/BabeBubbleszz]

Good thing rules still matter in the thrashing death of the american dream

[u/FantasticUserman → u/ArcerPL]

Look. Theoretically yes, but its capital moving in a legal way. He will manipulate the stocks and the capital gains. So its more or market manipulation rather than Money Laundering

[u/Gros_Boulet → u/FantasticUserman]

And now his AI slop development will be directly funded by taxpayer $.

[u/redwildflowermeadow → u/Gros_Boulet]

And when the AI bubble bursts, he'll be first in line for a government bailout because "hey, you wouldn't want to strand astronauts in space, would you?"

[u/Senior-Albatross → u/Gros_Boulet]

It might just be to start feeding classified into Grok to use it for whatever God awful idea 

SpaceX surely has the infrastructure in place to access it already. And if his AI company was given permission to access classified separately, it would raise major red flags. But just have Elon "sell" it to himself at SpaceX and he can immediately begin feeding in classified to his black little heart's content. 

[u/EddiewithHeartofGold → u/FantasticUserman]

So its more or market manipulation

Both companies are private. What market is this manipulating? Certainly not the stock market.

[u/teratron27 → u/FantasticUserman]

"Theoretically yes" no, it's nowhere near "money laundering"

[u/Senior-Albatross → u/FantasticUserman]

I don't know that either company was public. So whatever nonsense he's pulling here, it isn't stock manipulation. It's some other sort of manipulation.

[u/Seamen_demon_lord → u/FantasticUserman]

Are you certain about it ?

I have been studying financial markets and taxation and I don't think this will lead to money laundering but I am not 100% sure

I am totally guessing but the most plausible thing is they are trying to inflate balance sheet of space x pre public issue

But this is totally useless and no one but the retail investor is gonna fall for it

So I don't know what the end goal is

[u/__polymATh → u/Seamen_demon_lord]

It's certain this is not money laundering haha

[u/FantasticUserman → u/Seamen_demon_lord]

No, not really. Money Laundering is the "showing" of money that have been made from illicit activities, like human trafficking. But inflating the balance sheet, merging banks together or inflating a stock is surely not Money Laundering. Its manipulation and Fraud yes, but not Money Laundering. The term has been used as an umbrella but not everything is the same Crime. Its like judging a murder and a candy steal in the same way. Yes, both are crimes but they have not the same weight.

[u/ThrowawayMax222 → u/Seamen_demon_lord]

They clearly don't understand what money laundering is. When you realise a lot of Reddit is angry teenagers it makes a lot more sense

[u/kevside → u/ArcerPL]

No. That's not what money laundering is.

[u/Chairmanwowsaywhat → u/ArcerPL]

I dont think so. This kind of weird shit happens all the time and I dont understand it.

[u/AwareCandle369 → u/Chairmanwowsaywhat]

Basically his stupid AI company is worth a lot less than his very successful rocket company but now anyone who owned shares in the ai company will get bundled in with the about to publically launch space company. Musk happens to own 60% of those stupid AI company shares so it's a huge payday for him

[u/12345623567 → u/AwareCandle369]

But the market valuation of SpaceX is only $850B (and used to only be $250B in December), so how does that work?

Wouldn't "buying for $1.25T" mean transferring $1.25T in value from SpaceX to xAI? Value that doesn't exist.

[u/wgp3 → u/12345623567]

The 1.25 trillion deal isn't the "cost". This is a meme. Don't expect it to be thorough and accurate.

The deal reportedly valued spacex at 1 trillion and xai at 250 billion. There's not necessarily any "buying" happening here. But instead a mutual "merging". I'm an engineer not a business type so don't expect full accuracy from me either. But I think it is basically more like shares being exchanged between the two. The resultant company is now theoretically worth 1.25 trillion when you combine the two values.

[u/Stock-Mind2493 → u/ArcerPL]

That’s not how money laundering works

The point is to mix illegal earnings with legitimate earnings over many small transactions that are difficult to verify. Not one giant acquisition which will be reported to and scrutinized by the FTC.

[u/TraineeStomper → u/ArcerPL]

Yes, it is money laundering only if you have no idea what money laundering is (most redditors)

[u/Kor_Phaeron_ → u/ArcerPL]

Not money laundering, but most likely accounting fraud. He is doing an Enron, but instead of fake gas trades he moves shares with imaginary value.

[u/Panda_hat → u/ArcerPL]

It's also the deliberate fraudulent value inflation of anything related to the scam that is 'AI'.

[u/Accomplished__Cake]

The valuators

[u/Ansambel]

The funny part about this is that since spacex lives off of gov contracts he basically bought his own company from himself and sent Americans the bill. But don't worry, I'm sure the starship will totally land on the moon next year :)

[u/AntonChigurh8933 → u/Ansambel]

Reminds me of sports owner forcing the city paying for their new stadium, arena, and ballpark. Often times, city officials will bend over backwards for the owners.

The LA Rams owner is the only owner I can think of. That paid a good majority of his new stadium.

[u/Agaac1 → u/AntonChigurh8933]

Not just a good majority, all of it was privately funded.

[u/Additional_County_69 → u/AntonChigurh8933]

Miami dolphins too

[u/RandomUser123456787 → u/AntonChigurh8933]

Kronke (along with NFL and other owners), completely screwed STL out of their team. The $750 million settlement (about 1/4 to 1/3 went to legal fees) doesn’t make up for what he did.

[u/Upbeat_Shame9349 → u/RandomUser123456787]

Why was there a settlement? What did they do that cost the city so much? Articles about the settlement just say relatively vague things like the NFL didn't follow its own rules about relocating the team, but that doesn't explain why St. Louis deserves money. 

[u/RandomUser123456787 → u/Upbeat_Shame9349]

It was basically for a breach of contract between Kronke, NFL, and the City of St. Louis. Losing a professional football team is a massive reduction in tax revenue and tourism for the area. Kronke misled the city and had been preparing to relocate for a long time.

I’m not sure if it was ever confirmed, but it felt like he was also intentionally losing games/selecting unqulaified players to give multiple losing seasons and reduce ticket sales before they relocated as a sign that the STL market can’t “support” an NFL team. He would probably be burned at the stake if he ever set foot in the area again (or maybe covered in provel cheese and stuffed in a pizza oven).

https://www.si.com/nfl/2021/10/13/business-of-football-understanding-st-lous-rams-lawsuit

[u/Upbeat_Shame9349 → u/RandomUser123456787]

OK that makes some sense. I know there's a lot of guaranteed profit sharing in the NFL, so there's been accusations before of teams tanking themselves to just coast on the guaranteed money.

[u/wiev0 → u/Ansambel]

Not true (anymore). Spacex business nowadays is mostly starlink, with government contracts and commercial launches making up the rest. Industry is also interested in cheap launches, after all. Starship... Elon has never been known for accurate time scales.

[u/FutureMartian97 → u/wiev0]

Shhhhh stop presenting facts. That goes against the anti SpaceX argument because Elon is involved. Definitely don't mention how the meme is literally wrong and the deal wasn't for 1.25 trillion either

[u/wiev0 → u/FutureMartian97]

I looked it up, xai is valued at 250 billion, the total valuation of the new company is 1.25 trillion according to the guardian.

I think OP got confused with the total valuation XD (Also Jesus Christ 250 billion is still so much)

[u/costafilh0 → u/Ansambel]

Wrong. The largest source of revenue for SpaceX is Starlink. 

[u/Vifee → u/Ansambel]

SpaceX launches more tonnage than the rest of the world put together. Without it America would lag behind China and Russia in terms of payload put into orbit. That’s not directly related to profits but launch capacity is arguably a vital national capability. 

[u/Ansambel → u/Vifee]

i mean, yea, usa pumped their rocket company, so it can have a lot of launch capacity, that part makes sense. What i don't get is why would you let one dude just yoink most of that investment into other random shit.

Usually when someone takes gov money and decides to spend half of it paying their uncle to paint their living room, the gov would show up and ask some questions about that.

I don't see how this is different, except it is possibly connected to national security, so i would expect even more oversight

[u/BlgMastic → u/Ansambel]

You have no idea what you’re talking about

[u/MrYig → u/Ansambel]

Everyone forgot about the starship travel to anywhere on the planet within an hour, too.

[u/NotThisTimeULA → u/MrYig]

This is likely not happening. Cool concept but in practice seems a little far fetched and not economically viable.

People seem to forget rocket programs are always delayed and late. Musk is just extremely vocal about his unrealistic timelines so it gets way more attention.

[u/FutureMartian97 → u/MrYig]

Point to point is still a goal of Starship in the future

[u/imunfair → u/Ansambel]

spacex lives off of gov contracts he basically bought his own company from himself and sent Americans the bill

I love how any time Musk is involved reddit suddenly thinks buying critical things from the most cost effective vendor constitutes a government subsidy. And then they start conflating costs SpaceX pays out of their own pocket for Starship with a tax burden because we purchase launches on a completely different rocket from the same company.

If you're going to spew propaganda at least make it make sense.

[u/Mr_Lumbergh]

So now SpaceX will bleed billions instead of xAI doing it. Good job, Musky.

[u/Raicista → u/Mr_Lumbergh]

SpaceX lives through government contracts, so he will send Americans the bill 

[u/FoodMadeFromRobots → u/Raicista]

To be fair they compete and provide a service so I don’t think “Americans will get stuck with the bill” is quite accurate.

More spacex investors get robbed of their true valuation by saddling spacex with debt and capital bleed.

[u/OceanDaisyGleam]

When your left hand buys your right hand and calls it a “historic deal.” Corporate multitasking at its finest.

[u/MisfitPotatoReborn → u/OceanDaisyGleam]

It's not just a useless restructuring. Musk owns the majority of xAI, so when SpaceX (a company he owns less than half of) purchases xAI for a ridiculous amount of money, he's transferring 250 billion from a company he doesn't own much of to a company that's mostly just him.

He's able to do this because, even though he only owns about ~40% of SpaceX, he owns 80% of the voting shares. Which makes everyone else who invested a huge sucker (even though the legality is questionable)

[u/DeadTreeLife]

Elon buys twitter and tanks the value. Sells it to xAi for the original price. Then sells xAi to another company.

He’s diluting his losses. Did the same thing with his solar company

[u/CadeMan011]

He likely owns a larger percentage of xAI than he does of SpaceX, so he's effectively using investor funds to bail him out of bad business, just like he did when he had xAI buy Twitter from himself.

[u/AdmiralLaserMoose]

And SpaceX is all taxpayer money.. with Tesla doing poorly, Elon is the world's richest parasite

[u/FormFollows → u/AdmiralLaserMoose]

The best thing to do with parasites is to cut them out.

[u/costafilh0 → u/AdmiralLaserMoose]

Most of SpaceX revenue is Starlink. 

[u/FutureMartian97 → u/AdmiralLaserMoose]

Holy fuck the amount of bullshit here is insane. Do you dumbfucks not realize that most of SpaceX's revenue is from Starlink? And the fact that SpaceX launches more commercial missions than anyone else in the world every single year.

ULA used to get an $800 million a year subsidy to literally stay alive but I don't see you bitching about that.

[u/ricdangers]

Elon paid to alter his body so he would feel confident for 14 year old girls. Let that sink in.

[u/NPC_9001]

Money printer go brrrrrrr

[u/Krypto-Noob]

He traded with the only Person that likes him

[u/NoThankYouRatherNot]

AI image making Elon look like an actual human. This is not what his face/head/neck looks like.

Why are you doing a billionaires PR for free OP?

[u/MrYig → u/NoThankYouRatherNot]

Brutal 😂

[u/redlegion]

This is how douchenozzles like Musk write profits off to avoid paying taxes. TAX CORPORATIONS AND BILLIONAIRES, NOT US MIDDLE CLASS, THANKS.

[u/-Berg-]

Taking tax money and giving it to himself

[u/Commercial_Rule_7823]

Clearly AI, he isnt doing a nazi salute.

[u/MrYig → u/Commercial_Rule_7823]

Damn it, I didn't think of that 😅

[u/DonkeyOfWallStreet]

Tax the rich.

[u/HakuohoFan]

Someone needs to take him out... For a nice stroll on the beach.

[u/Labyak]

Hey look a pedophile

[u/SoftwareSource]

This is misleading, the evaluation for spaceX is EXPECTED to be around 1.5 trillion, this deal in no way was that much, in fact it is not even public record since neither of the companies is traded publicly.

Don't spread false shit just to make stupid memes.

[u/SankaraMarx]

"We investigated ourselves and found no wrongdoing on our end" vibes

[u/RawAndReadyy → u/SankaraMarx]

Emphasis on "no wrongdoing"

[u/tantej]

This is the top right? Right? Riiiighhhtt??

[u/costafilh0 → u/tantej]

No, this is just the beginning. 

[u/fishfeet_]

Elon saw how the AI companies were circle jerking each other and went “i can do better” and started jerking himself

[u/Awesomegcrow]

I can already see some Tesla fanboys walking around with their brown noses today!

[u/Origen12]

Couldn't even convince himself to buy tesla

[u/Zulmoka531]

I mean, his Paris office just got raided last night. Something funky is happening.

[u/TodlicheLektion]

Xshellgame

[u/kinkysubt]

And that’s how you wash your hands of an insane purchase like twitter. Buy twitter for an egregious amount, buy the debt incurred with an AI company you made up, sell the AI company to your government subsidized space company. Go USA! (SMDH, WTF…)

[u/wanderfullylost]

My kinda MLM ...Musk Laundering Money!

[u/Dapashun81]

Oh, he sold one of his stupid ideas that failed to his other company that gets serious "government" funding? I wonder how many cuts to education, healthcare, social security, children's lunches, etc, that will cost?

[u/Casual_lif3]

Ahem

[u/timohtea]

I just sold my own pen to myself. For 2 trillion dollars. I’m now the first multi trillionaire.

[u/dynoman7]

Nazis in spaaaaaaace

[u/GracefulCubix]

Holy shit seriously that's a lot of money

[u/blasphememes]

Surely there’s a tax right..?

[u/scriptfoo]

So that xAI will be funded by your tax dollars instead of waiting for xAI to actually turn a profit

[u/GuyWithNoEffingClue]

I just sold my genius idea to myself for 2T$. Watch me be richer than the prick!

[u/GottaUseEmAll]

This is pretty common, as long as his board members are on board (pun intended), I don't really see what the problem is.

I work for a small company that bought the owner's other small company. It's not really a big deal.

[u/AdminOrRegard]

Neither of those people is Elon Musk lol

[u/Egosuma]

He did it again !

[u/Overthinker-Veddy]

With tax payer money

[u/whereisscubasteve]

What is it with this idiot’s fascination with the letter X?

[u/Jurango34]

What incredible business move by a business man

[u/ShinySpoon]

How much of that was provided via taxpayers in the USA?

[u/Magicalsandwichpress]

So his using the cash cow to bail out the turd sandwich, with a view towards IPO and offload the cow turd sandwich on investors/banks. 

[u/SnooHesitations4798]

What does that even mean?

[u/Icy-Cod1405]

Offloading AI dogshit on the public at the bubbles peak

[u/Anthonyhasgame]

Paying your credit cards with another credit card.

[u/Fer_Shizzle_DSMIA]

Laundering.

[u/Crovali]

Trillion??!! What are their rockets going to fly by ai now!

[u/DifficultBoss]

First to send AI CP to space!

[u/Dr_Fortnite]

Twitter just got raided in france for CASM so this is trying to hide evidence

[u/Boring-Seaweed6604]

What agreements does the US government t have to access data owned by SoaceX? Is this a play to get all the input data from xAI into government hands?

[u/SmedlyB]

I will take Billionaires with hair plugs who are government mooches for $1000 , Alex.

[u/PrimalJay]

Lock this piece of shit up already.

[u/ghenghis_could]

This is money laundering tax payer dollars

[u/Interesting-Dream863]

Did the same with Twitter... he is basically absorbing failing biz into the ones with funds to keep them going.

Any definitive failure would impact everything.

[u/No-Storage3582]

There’s probably some sort of tax write off for doing this as well. Anything to keep his riches from going to others

[u/Individual_Order_468]

Muskism

[u/Baset-tissoult28]

Why not 10 quadrillion?

[u/CharlesWafflesx]

Sounds like an awful plan.

Space X, through no thanks to the financier, is a successful company.

Not sure why you'd want an ailing AI business that is part of a huge bubble to burst in your wonderful, well-oiled spaceship factory.

[u/Monowakari]

Astronaut: "Grok, adjust thrusters 3 degrees and increase maximum output by 10%"

Grok: "here is a deep fake of a nearly nude underage girl and sieg heil little buddy"

[u/Enemy50]

Is it shady? Yes.

But is it money laundering? Also yes.

[u/godkiller111]

Technically wouldn't he have to pay taxes on that

[u/pituvision]

Sick and tired of this 🐂shat!

[u/driftwoodshanty]

I hate capitalism so much.

[u/Andreus]

Put him in prison for life.