The world’s richest person announced on Friday that he has combined two of his multi-billion-dollar companies. Here’s how much he stands to make from the highly unusual deal.

Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33 billion all-stock deal, the billionaire announced on Friday.

What’s going on here? With the sale of X to xAI, Musk is exchanging the investor base of the social network with that of his AI company.

Elon Musk on Friday evening announced he has sold his social media company, X, to xAI, his artificial intelligence company, in a deal that values X at $33 billion, much less than he paid for it in 2022 but a significant rebound from its moribund valuation just a few months ago.

Elon Musk's AI startup, xAI, has acquired his social media platform X, formerly known as Twitter, in an all-stock deal.

Elon Musk announced in a post on X that his artificial intelligence company, xAI, had acquired the social media platform in an all-stock deal.

Welcome back to Week in Review! Elon Musk says that xAI bought X in an all-stock deal; a16z-backed 11x faked some customers; the Lumon Terminal Pro pops

Elon Musk's artificial intelligence firm xAI acquired X in an all-stock deal valuing the social media company at $45 billion, minus $12 billion in debt.

Elon Musk announced Friday that his company xAI is buying X, the social media platform formerly known as Twitter, in an all-stock deal. The transaction values xAI at $80 billion and X at $33 billion, according to CNBC.