In the last couple of years, billionaire Elon Musk has invested his money in several businesses. Not long ago, he got a hold of the micro-blogging website Twitter for a staggering $44 billion. Since then, he has made a few changes to the social media platform like changing its blue bird logo to a ‘dog meme.’
And now, the SpaceX CEO has decided to merge Twitter Inc. with his company X Corp. As per the court documents obtained in April 2023, Musk who owns Twitter has been merged with X Corp. Keep scrolling further to know more details about X Corp.
Here’s all you need to know about X Corp
For those of you who are unversed, let us share with you, X Corp is a corporate company owned by the business magnate Elon Musk. This company is based in San Francisco, the same city where the headquarters of Twitter are.
According to a report by The U.S. Sun, the X Corp appears to be a company that is focused on creating an “everything app.” As of this moment, the name of Twitter has not been changed. Although, Musk is the owner of Twitter and he has merged it with X Corp.
In a statement released, they said, “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.”
Why has Twitter been merged with X Corp?
In the past, Musk described his massive buyout of the platform Twitter as an “accelerant” to make his all-encompassing app. It looks like the CEO of Neuralink and OpenAI wants to put all his assets in line.
Now, Elon has merged the corporate company called X Corp with the social media giant. Last month, he mentioned that he wants to make Twitter a payment-friendly platform.
Then, he said, “Let’s say you want to be able to send money easily from one account on Twitter to another account effortlessly, with one click, 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 can go negative.”
The successful entrepreneur went on to say, “Basically, I think it’s possible to become the biggest financial institution in the world, just by providing people with convenient payment options.”
Who is the owner of X Corp?
Elon Musk is the owner of X Corp. In addition to this, he also owns numerous companies including Tesla, SpaceX, Twitter, Solar City, Boring Company, and others.
When we talk about the net worth of the astute businessman, it’s skyrocketing with each passing day. Musk who has an estimated net worth of $180 billion has bagged the second spot on the Forbes billionaires list 2023.
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