Elon Musk is not new to controversies. Recently, he is in the limelight for his bid to buy Twitter. However, some sources have claimed that the billionaire is planning to combine SpaceX, Tesla, and Twitter into one super company. As the world’s richest man continues to remain in headlines; he listed three new companies on Tuesday. He has registered these three companies in the tax-friendly state, Delaware under the name “X Holdings”.
Elon Musk Registers X Holdings
Although much isn’t known about this registration, Elon Musk appears to financially maneuver the three companies as a part of his Twitter bid. Musk has registered three new companies; namely, X Holdings I Inc., X Holdings II Inc., X Holdings III LLC. Firstly, X Holdings I Inc. lists Musk as the president, treasurer, and secretary. Secondly, X Holdings II Inc. is rumored to merge with Twitter. The third company, X Holdings, III LLC would help in funding the transactions.
Besides three new companies; rumors are also speculating about Musk merging all his ventures into one super company. He might merge Tesla, SpaceX, Neuralink, The Boring Company, etc. In December 2020, an investor named Dave Lee tweeted tagging Elon Musk; that he should start a holding company called X.
I propose @elonmusk to form a holding company called X.
X's mission is to ensure human survival and progress.
X becomes parent company of Tesla, SpaceX, Neuralink and Boring Company.
Elon, what do you think? ?
— Dave Lee (@heydave7) December 23, 2020
This company will act as a parent company for all of Musk’s ventures. However, it will aim at ensuring human survival and progress. To this, Musk responded “good idea”. But Musk also spilled water on the idea of opening a super company recently last week. He said that it’s not easy to combine such things.
In contrast to Dave Lee’s idea, investor Gary Black condemned the idea of combining the companies. He said that it’s “a terrible idea” for Elon Musk to open a combined venture for all of his firms. Furthermore, Tesla’s profit margins might also dilute due to this merge of ventures.
