‘Elon Musk Gives Himself Another Handshake’

Nick Heer, Pixel Envy on the news that SpaceX “invested” $2 billion in the xAI money pit:

This comes just a few months after xAI acquired X, one year after Musk shifted a bunch of Tesla-bound Nvidia GPUs to xAI, and just a few years after he used staff from Tesla to work on Twitter. So, to recap: he has moved people and resources from two publicly traded companies to two privately owned ones, has used funds from one of his privately owned companies to buy another one of his privately owned companies, and is now using one of his publicly traded companies to give billions of dollars to one of his privately owned ones.

Musk can and should be able to do whatever he wants with his privately held companies, like X Corp and SpaceX. But the way he treats Tesla Motors, which is publicly traded, as though it’s just part of his personal fiefdom is absurd. And the European Commission isn’t fooled.

★ Monday, 14 July 2025