In Reply to: Big move by Musk reverses fortune of X even posted by HasBen on March 28, 2025 at 17:46:22
He's going to be in trouble when DOGE investigates this one for fraud
The early reaction is pretty funny. Last week Musk said he was working on a financing deal that valued X at 44 billion. Nobody believed him, a week later he "sells" the company for 45 billion minus 12 in debt so he vauled it at 33. Remember HE owns XAI, the deal is all stock so he sold one of his companies to another of his companies for all stock.
The early reaction is how did the little brother with no money buy the big brother?
Remember they still haven't figured out the story about how he's got a missing 1.4 billion at Tesla on their books which is widely believed to be him "loaning" 1.4 billion to X to try and prop it up.
And Canada is going after him for fraud, in the last 3 days before the government rebate program closed Musk is claiming THREE Tesla dealers sold over 8600 Teslas which is like 43 million dollars in rebates. Canada is saying it's an absurdly obvious case of fraud, they believe Musk "sold" the cars to a holding company to scam the rebate