Avatar
Larry Garfield 9mo ago

So, he's selling one company he owns to another company he owns, and decideding himself how much both companies are worth in the process.

How is this not fraud, to prop up his theoretical net worth so he can get better sweetheart loans like the rest of the billionaire class?

https://techcrunch.com/2025/03/28/elon-musk-says-xai-acquired-x/

#thebadplace #twitter #ElonMusk

Reply to this note

Please Login to reply.

Discussion

3d
sms 9mo ago

It works the way described only in your mind.

Corporations are separate legal entities, subject to a myriad of regulations.

Those are not sole proprietorships, are they?

If not, then that's how it's not fraud.

As long as they are not "too big to fail" and be bailed out through coercive funding by your gangsterment, Musk's loan risks are his and the bank's business.