Elon Musk’s Twitter purchase has lost him Rs 93,500 crores so far…

In a recent Twitter post Elon Musk announced that “xAI has acquired X in an all-stock transaction. The combination values xAI at $80 billion and X at $33 billion ($45B less $12B debt).” Musk had bought Twitter/X for $44 billion in 2022. Therefore, for all practical purposes, there is a clear loss of over $11 billion ($12 billion debt notwithstanding). What exactly happened? Did the world’s richest man make a losing deal or is he using one company to bail out another.