Elon Musk’s bid to buy Twitter has heated up lately. Musk is going with his “plan B” strategy after the social media giant enacted a “poison pill” plan to keep the SpaceX founder from buying the company outright. Part of that plan may be to combine all of his businesses under one corporate umbrella.
Bloomberg reported on a recent filing where Musk formed “X Holdings I, Inc.” The goal is to purchase Twitter with a group of investment partners designed to skirt the poison pill. The company would then be folded into the new company.
As part of the merger, a second corporate entity, X Holdings II, Inc. would merge with Twitter, and X Holdings III, LLC. would be used to fund all the transactions. The ultimate goal would be to bring all of Musk’s businesses under one umbrella company.
In 2020, Musk spoke about a company called “X” that would bring together all of his businesses with a ‘mission to ensure human survival and progress’ with an investor. Musk endorsed the idea, which was presented to him via Twitter. This appears to be the genesis of that idea.
The entire plan has a long way to go. It will be very difficult for Elon Musk to acquire Twitter and turn it into a private company. That would be essential for this to work. We may see SpaceX and Tesla combining either way.
We will have to wait and see what is next for the billionaire corporate raider. This could all be a signature tax dodge by Musk, who has also been alleged of taking part in crypto pump-and-dump schemes using social media. Combining these gigantic companies could be all a part of some master plan that nobody knows a thing about yet.
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