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Elon Musk may be laying the groundwork to combine Tesla, SpaceX and Twitter into a new super company.
As the world’s richest man continues his crusade 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.
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, which first spotted the fillings.
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 outlet reported.
But the filings have also revived speculation about whether Musk plans to merge all his ventures — Tesla, SpaceX, Neuralink, The Boring Company and potentially Twitter — into a single super-conglomerate.
In December 2020, an investor and Musk booster named Dave Lee wrote on Twitter that Musk should “form a holding company called X” that would become the “parent company of Tesla, SpaceX, Neuralink and Boring Company” with the “mission to ensure human survival and progress.”
“Good idea,” Musk responded.
But Musk also appeared to throw cold water on 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.”
New York Post
