Elon Musk just sold 𝕏 to… Elon Musk 🤷♂️🤑; JPMorgan's $175 million lesson: Frank founder convicted in landmark FinTech fraud case 🦹♀️🏦
FinTech is Eating the World, 1 April
Hey Everyone,
Good morning & happy Tuesday! Today’s issue is the best one yet as we’re going to look into Elon Musk who just sold 𝕏 (formerly Twitter) to… Elon Musk (what it’s all about & why it could be a game-changer + bonus deep dive into 𝕏 and some critical AI must-reads inside), and JPMorgan that just learned a $175 million lesson (how Frank founder was just convicted in landmark FinTech fraud case, why it matters & what to expect next + some priceless M&A resources inside to save you billions). So let’s just jump straight into the incredible stuff 🌶️
Elon Musk just sold 𝕏 to… Elon Musk 🤷♂️🤑
The news 🗞️ Elon Musk has just orchestrated a major consolidation of his tech empire by having his artificial intelligence startup xAI acquire 𝕏 (formerly Twitter) in an all-stock transaction valued at a whopping $113 billion 😳
The deal, announced just a few days ago, values xAI at $80 billion and 𝕏 at $33 billion, with xAI shareholders receiving approximately 70% of the combined entity called XAI Holdings. Not too shabby!
Let’s take a deeper dive into this, understand why it could change the game of social + AI, and see what’s next.