Tesla and SpaceX Boss, the richest person on the planet, Earth, Elon Musk, has sold social media site X to his own AI company xAI for $33 billion, the billionaire announced last Friday. Both companies are privately held, which means they are not required to disclose their finances to the public.

He transferred ownership of social media platform X (formerly Twitter) with the deal of worth 45 billion, but since X already had 12 billion in debt, the actual value is $33 billion. “This merger will unlock immense potential, creating smarter and more meaningful experiences on the platform’, Musk Claims. Now the new company which is combined is valued at $80 billion.

Since Musk took over X, the platform has been with a lots of controversies. From widespread job cuts to a rise in hate speech that caused advertisers to pull back. X’s value has improved a bit. However, integrating AI seems risky. The platform’s reputation has suffered a lots. AI could help or harm its future.

Elon Musk, the world’s wealthiest man, is also a close ally of U.S. President Donald Trump and heads the Department of Government Efficiency (DOGE)

In December 2024, he said that the AI start-up would be expanding its supercomputer to compete with its rivals, OpenAI. This expansion involves increasing the number of graphics processing units to speed up the development of new advanced AI systems.