Who really owns xAI? Musk shocks with claim that X was sold to AI firm!

Elon Musk last Friday said that xAI has taken over X, platform previously known as Twitter, in a all-stock deal worth $45 billion, including debt. The 53-year-old added that the merged entity would be worth $80 billion.

Ownership in Question

"xAI and X's futures are now interconnected. The combined entity will bring more intelligent, more meaningful experiences to billions of individuals and remain committed to our core mission of finding truth and spreading knowledge," he added. The world's richest man, Musk, bought Twitter in October 2022. The CEO of Tesla and SpaceX finalized the purchase at an offer price of $54.20 a share, which took around $44 billion from him. Within days, the billionaire had sacked top executives and cut half of the company's employees

Who owns xAI?

xAI was started by Elon Musk in 2023. At 53, he is the sole owner and driving force of the company. It is a private company dedicated to creating AI. Public information about further ownership positions is not available yet. X Corp. is a privately held tech company owned entirely by X Holdings Corp., whose largest shareholder is Elon Musk. It was formed in March 2023 when Twitter, Inc. merged with it. It is headquartered in Bastrop, Texas, and has CEO Linda Yaccarino at its helm since June 2023. Musk is the Executive Chairman and CTO. Mahmoud Reza Banki was appointed as CFO in November 2024.