Trump has plucked a number of presidential appointments from Fox News programs, both in his first term from 2017-2021 and since being elected again on November 5
world5 hours ago
Elon Musk is reportedly working on creating a new super company combining Tesla, SpaceX and Twitter.
The New York Post report comes as the world’s richest man continues to take over Twitter, Musk registered three new companies on Tuesday in the tax-friendly state of Delaware under variations of the name 'X Holdings'.
The three new companies appear to be financial maneuvering as part of Musk’s Twitter bid, New York Post said.
Earlier in April, Musk says he has lined up $46.5 billion in financing to buy Twitter, putting pressure on the social media platform’s board to negotiate a sale deal.
X Holdings was formed at the direction of Musk and some affiliates who intend to “acquire, directly or indirectly, all of the outstanding equity interests of, or directly or indirectly merge with Twitter.,” according to a financing commitment letter the company submitted.
The first company, X Holdings I Inc., lists Musk as president, treasurer and secretary and would be the parent company of Twitter if the billionaire’s bid succeeds, according to Bloomberg.
Another entity, X Holdings II Inc., would merge with Twitter as part of the acquisition, while X Holdings III LLC would be used to help fund the transaction, the report added.
The filings have fuelled speculations that Musk plans to merge all his ventures, including Tesla, SpaceX, Neuralink, The Boring Company and potentially Twitter, into a single super-conglomerate.
ALSO READ:
However, Musk dismissed the idea of forming a super company last week, blaming Wall Street investors for short-term thinking.
“As a public company, you’re just constantly sued,” Musk said in a TED interview. “It’s not that easy to sort of combine these things.”
Trump has plucked a number of presidential appointments from Fox News programs, both in his first term from 2017-2021 and since being elected again on November 5
world5 hours ago
This place also offers golden karak tea for Dh150 and if you want to buy gold-infused water, get ready to shell out Dh300
food6 hours ago
A unified platform for drone operations will also be launched, streamlining registration and operational procedures
uae6 hours ago
The US prosecutor charges are the biggest setback for India's $143 billion Adani Group, which was last year hit by Hindenburg Research's allegations of improper use of offshore tax havens
asia7 hours ago
Launched in 2008, Chrome dominates the browser market, dwarfing rivals Edge and Safari, developed by Microsoft and Apple, respectively
tech7 hours ago
Marcos Jr. begged for understanding of his kababayans in the UAE as he would not have time to meet them
uae7 hours ago
Trump International Dubai was named Best Par 3 Course at the 11th annual World Golf Awards while Yas Acres Abu Dhabi was voted World’s Best Nine Hole Course
sports7 hours ago
This travel-related case was associated with an ongoing outbreak of clade I mpox in central and eastern Africa, said the Public Health Agency of Canada
world8 hours ago