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Elon Musk — Tesla  (TSLA)  CEO, fervent apostle for launching a spacecraft to Mars, intense ally of Donald Trump and scourge of government workers — did a deal he hopes will rationalize his corporate life.

He announced Friday he sold X, the site formerly known as Twitter, to his artificial intelligence startup xAI. Both will be part of a new Musk-controlled company.

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Musk said the deal had a total value of $113 billion. That's $80 billion for xAI and $33 billion for X.

It gets complicated from there. In Musk's announcement of the deal, he valued X at $45 billion, but that was before accounting for $12 billion in debt.

Related: Analyst reboots Tesla stock price target ahead of deliveries

Musk bought X in 2022 for $44 billion. He has turned it into a hotbed of controversial conversation, often fanned by himself. It included massive amounts of pro-Trump content during the 2024 election campaign and continues to promote Trump initiatives and political views.

In his announcement, Musk claimed X has 600 million active users.

X has experienced valuation travails . . .

The value of X had sunk to $12 billion in January, The New York Times reported on Friday. The Times cited data from Fidelity Investments, which had helped Musk buy what was then Twitter.

It's unclear if that means the $12 billion Fidelity cited is net of the debt X was carrying.

In March, X raised $900 million from new and existing investors at a valuation that the Journal said was "just above" its original takeover price.

. . . and has struggled to be a money-maker

However, X has struggled to generate revenue since Musk's acquisition. In January, The Times said, Musk told employees the company's revenue was "unimpressive" and X was "barely breaking even."

In early March, it was struggling to meet first-quarter ad-revenue goals.

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In any event, X and xAI are already partners. Musk said their futures "are intertwined."

X and an xAI-developed chatbot called Grok share resources, including software engineers. Grok is trained on data posted by X users, and some of X's revenue comes from xAI.

The Wall Street Journal said Friday that all shares of X and xAI will be exchanged for shares in a new company, xAI Holdings Corp., registered in Nevada. Musk is listed as president.