It's crazy but legally there's nothing fraudulent here. I'm sure the deal was approved by the boards of both companies.

What's the fraud? xAI is a real company if useful products, SpaceX obviously is a real company and the most successful one in its sector. They are privately owned and can be rearranged as desired.

How do you keep these kind of things under the radar anyway?

Its only fraud if poor people do it. Welcome to American politics.

But the "fraud" here is being done mostly to VC investors with deep pockets and lawyers, at least until he tries to take this entity public. And I can't imagine them just taking this lying down, but then again maybe they realize that offloading this steaming pile on public market investors is the best way out. But even then... SpaceX seemed like it was quite viable on its own, the investors there are the real losers here.

It is all very puzzling to me.

Poor people are using their public car company to buy their private space company?

It's only fraud if rich people lose money

no I get it, but I mean fraud is usually kept out of the public. this is fraud in broad daylight?

Why hide it if you know you won't be punished for it?