A lot has been going at Twitter since the multi-billionaire Elon Musk took over the microblogging platform last year. The latest development is that it has now been ‘merged into X Corp’ and ‘no longer exists’ as an independent legal entity.
Confirming the development, Musk himself took to the microblogging platform to tweet a single alphabet- ‘X’. The tweet in itself was a testament to the fact that the microblogging platform will now be ‘an accelerant to creating X, the everything app’. It, however, also confused a lot of netizens and speculations were rife about the Tesla CEO’s intentions.
After he acquired Twitter last year, Musk had already stated that he has plans to transform Twitter, now X, into a similitude to China’s WeChat as he wants his app ‘to become the biggest financial institution in the world’.
“Twitter probably accelerates X by 3 to 5 years, but I could be wrong,” he had said in October 2022 while replying to a user who said it would've been easier to start X from scratch.
According to a court document dated April 4, Twitter ‘no longer exists’ and is now ‘X Corp’ which was in response to the lawsuit that was filed by Laura Looner against Twitter and its former CEO Jack Dorsey for allegedly violating federal racketeering laws when it banned her account in 2019.
The court document that has made several rounds on social media now, mentioned, “Twitter Inc. has been merged into X Corp. and no longer exists. X Corp. is a privately held corporation, incorporated in Nevada, and with its principal place of business in San Francisco, California.”
It is to be noted that the domain- X.com is already owned by Musk as it was initially an online bank that he had co-founded in 1999 and later merged with software company Confinity Inc. a year later, post which its name changed to PayPal.
As of now, it is still unclear whether the other Musk-owned-businesses such as Space X and Tesla will also become a part of X Corp.
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