Twitter no longer exist

Twitter, the popular social media platform, no longer exists as a company after its owner, Elon Musk, merged it with another entity called X Corp. This move has been described as the next phase of Musk’s plans for an “everything app,” with X Corp potentially acting as the parent company for his other businesses, including Neuralink, SpaceX, Tesla, and The Boring Company.

In October of last year, Musk acquired Twitter for $44 billion, which he described as “an accelerant to creating X, the everything app.” The recent court filings show that Musk’s entire Twitter stock has been transferred to X Holdings Corp, a privately held corporation that now owns Twitter.

A separate filing was made in the US District Court for the Southern District of Florida Miami Division. Documents were amended to state: ‘Twitter, Inc. has been merged into X Corp. and no longer exists.’

The move has been compared to China’s WeChat, which combines social media, peer-to-peer mobile payments, taxi and food delivery services, and more. Musk has expressed his desire to create the “biggest financial institution in the world” with his everything X app.

However, Musk has also acknowledged the challenges that come with owning Twitter. In a recent interview with the BBC, he discussed his decision to lay off thousands of staff members and Twitter’s current financial situation. He stated that the company was in danger of going bankrupt if costs were not cut immediately.

While Musk’s plans for the future of Twitter and his everything app are still unclear, the recent merger with X Corp signals that significant changes are on the horizon. As one of the most influential and innovative business leaders of our time, Musk’s vision for the future of social media and technology is sure to be one to watch.

Musk said in October 22, that, “Buying Twitter is an accelerant to creating X, the everything app.” He offered the buyout about a year ago.

Last Updated on January 18, 2024