Billionaire Elon Musk has made a number of business investments during the past two years. He recently acquired the microblogging platform Twitter for an astounding $44 billion. He has now changed a few things about the social networking platform, such as its blue bird emblem into a “dog meme.”
And now, the CEO of SpaceX has made the decision to combine Twitter Inc. with his business, X Corp. According to court filings discovered in April 2023, X Corp. and Twitter owner Elon Musk have combined. For more information on X Corp, keep scrolling.
Here’s all you need to know about X Corp
For those of you who are unaware, let us inform you that Elon Musk, a business magnate, is the owner of the corporate company X Corp. This business is headquartered in San Francisco, the same location where Twitter’s corporate offices are.
The X Corp looks to be a business that is focused on developing a “everything app,” according to a story by The U.S. Sun. The name of Twitter has not been altered as of yet. Nonetheless, Musk owns Twitter and has combined it with X Corp.
Twitter Inc. has been amalgamated into X Corp. and is no longer an entity, they claimed in a statement. X Corp. is a privately held company with its main office in San Francisco, California, and a Nevada incorporation.
Why has Twitter been merged with X Corp?
In the past, Musk has called his significant acquisition of the social media site Twitter a “accelerator” to the creation of his all-encompassing app. The CEO of Neuralink and OpenAI appears to desire to align all of his holdings.
Elon has now combined the social media juggernaut with the business entity known as X Corp. He stated that he intends to make Twitter a platform that accepts payments last month.
“Let’s assume you want to be able to earn interest on that money, you want to be able to have debt, so you can let your interest go negative,” he continued. “You want to be able to transmit money easily from one account on Twitter to another account instantly, with one click.”
The prosperous businessman continued, “Basically, I think it’s conceivable to grow into the largest financial institution in the world, just by giving people easy ways to pay.”
Who is the owner of X Corp?
X Corp. is owned by Elon Musk. He also owns multiple other businesses, such as Tesla, SpaceX, Twitter, Solar City, the Boring Corporation, and others.
The smart businessman’s net worth is growing exponentially with each day that goes by. On the Forbes billionaires list 2023, Musk, who is predicted to be worth $180 billion, is ranked second.
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