The world’s richest person announced on Friday that he has combined two of his multi-billion-dollar companies. Here’s how much he stands to make from the highly unusual deal.

Musk’s decision to merge the businesses is a win for X investors, who have endured more than two years of uncertainty since his takeover as advertisers and users abandoned the social network.

What’s going on here? With the sale of X to xAI, Musk is exchanging the investor base of the social network with that of his AI company.