Comment by mkw5053

Musk is moving value out of public hands and into his own. He overpaid $44B for Twitter, then rebranded it as an AI asset by folding X into xAI. He pushed Tesla to invest $2B of shareholder money into xAI despite shareholders voting no. Five days later, SpaceX acquired xAI, effectively turning Tesla’s cash into equity in a private company Musk owns far more of. Musk controlled every step, there was no real arm’s-length process, and he almost certainly knew the outcome in advance. Musk and his private investors get control, inflated valuations, and IPO upside. Tesla shareholders supply the cash, take the risk, and lose leverage.