Ali Hasan
Elon Musk is planning to merge all his companies into 1 company and call it the “X” company. It will serve as a super-conglomerate holding company for him and all his business ventures.
Elon Musk tweeted that he thinks combining his 4 businesses under a giant holding company called “X” is a “good idea.
The big 4 businesses are as follows:-
- Tesla,
- SpaceX,
- Neuralink, &
- The Boring Company
Dave Lee, a YouTuber and Tesla investor tweeted at Musk with the idea. The holding company would make it easier for Musk to manage his ventures and start new ones, Lee said.
X would become the parent company of Musk’s 4 businesses, and its mission would be “To Ensure Human Survival and Progress” Lee said. “X could become The Most Significant Enterprise in Human History,” Lee added.
The purpose of the holding company wouldn’t be to increase the market capitalization or stock price of Musk’s firms, but to enable him “to continue to make Big Bets for Humanity, and have the time to manage them,” Lee said.
Lee said that creating a holding company would encourage more talented engineers to work for Musk’s enterprises. It would also allow the 4 companies to combine their human-resources and marketing departments and thus reduce the layers of bureaucracy, giving Musk more time to spend exploring new ventures, Lee added.
The name would pay tribute to X.com, the online bank that Musk set up in 1999 that later merged with Confinity and then became PayPal. Lee noted that Musk already owns the domain name.
