Twitter X Corp Becomes Elon Musk’s “Everything App” Hopes

Twitter Inc. is no longer An independent company after merging with a newly formed shell company called X Corp. , leading speculation about what Elon Musk The social media platform intends.
Twitter “no longer exists” after its merger with X Corp. , according to an April 4 document filed in a California court of a lawsuit against the company and its former CEO, Jack Dorseylast year by conservative activist Laura Loomer.
It’s unclear what the change means for Twitter, which has seen an overhaul since Musk bought the company for $44 billion last year. The billionaire owner has suggested in the past that buying Twitter would be an “acceleration” for creating X – which he called the “app of everything.” Musk tweeted about the move on Tuesday with the single letter “X.”

The second richest man in the world has announced his desire to make X similar to China’s WeChat, a super app owned by Tencent Holdings Ltd. It’s used for everything from payments and event tickets to messaging. But he was vague about how he would fit into his sprawling business empire, starting with electric car giant Tesla Inc. to Space Exploration Technologies Corp. Musk also owns the domain “X.com” – the name of the online payments company that it started and eventually merged with PayPal.
Musk first created three holding companies in Delaware with a different version of the name “X Holdings” in April last year as part of his Twitter takeover bid. But X Corp. was created. on March 9 in Nevada with its merger with Twitter filed on March 15, according to records filed in the state. Musk is the president of the company and its parent company, X Holdings Corp. , which was also incorporated last month and has an authorized capital of $2 million, filings show.
Twitter, which no longer has a team that handles media inquiries, did not immediately comment on questions sent by Bloomberg News. Attorneys for the law firm representing Twitter in the case, Willkie Farr & Gallagher, also did not immediately respond to a request for comment.
The move sparked intense speculation on Twitter about what it meant, with Musk’s tweet attracting more than 13 million views in a matter of hours. In Japan, the topic “Twitter Gone” started popping up, with users joking that the new name for Twitter would resemble the name of the local rock band, X Japan.