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Isn't this Musk offer just for the nonprofit part, i.e. not a comparable number?

Well the nonprofit theoretically controls the for-profit, so the argument would be that the subsidiary for profit is somehow worth more than its parent? It’s a complicated legal structure but I don’t think that could be true.

IMO this offer is exactly to prove that point.

Sam, if the non-profit is worth $40B then clearly you would be willing to sell it for $80B.

That's pretty strong evidence that the non-profit isn't worth just 40B and thus the basis of the go-private is invalid.

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