Elon Musk’s Twitter no longer exists as company, after a filing this week shows Twitter has been merged into X Corp
Elon Musk has quietly ended Twitter as a company, after court filings in California, and a subsequent tweet from the CEO, reveals the firm has been merged into a holding company called X Corp.
The move could signal a potential name change for Twitter, and is thought to be evidence of Musk’s previously stated ambition to turn Twitter into “X, the everything app.”
Earlier this week Elon Musk told the BBC that running Twitter has been a painful experience, and he confirmed that 80 percent of its workforce has been terminated.
After Musk had been forced by a US judge to honour his original agreement to purchase Twitter, which he had tried repeatedly to back out of, Musk in early October finally agreed to purchase the firm for $44 billion.
At the time a resigned Musk tweeted that “buying Twitter is an accelerant to creating X, the everything app.”
Buying Twitter is an accelerant to creating X, the everything app
— Elon Musk (@elonmusk) October 4, 2022
In March 2022 before the buyout, Musk had criticised Twitter and said he was giving “serious thought” to building a Twitter rival.
That came amid ongoing media speculation that Musk would try and turn Twitter into a replica of the Chinese WeChat app, that incorporates different services such as messaging, social media, food orders, and payments etc into a single app.
Now this week court filings have showed that Twitter has been absorbed as a company into X Corp.
“Pursuant to Rule 7.1(a)(1) of the Federal Rules of Civil Procedure, the undersigned counsel for Defendant X Corp., as successor in interest to named Defendant Twitter, Inc., hereby states that Twitter, Inc. has been merged into X Corp. and no longer exists,” the filing states.
“X Corp. is a privately held corporation,” it added. “Its parent corporation is X Holdings Corp. No publicly traded corporation owns 10 percent or more of the stock of X Corp. or X Holdings Corp.”
Musk appeared to confirm the move by cryptically tweeting an “X”, after news of the merger broke.
— Elon Musk (@elonmusk) April 11, 2023
Elon Musk also told the BBC that his dog has replaced him as Twitter’s chief executive after appearing to back away from a pledge to step down.
Reminded of the pledge during an impromptu live BBC interview on Tuesday, Musk said: “I did stand down. I keep telling you I’m not the CEO of Twitter, my dog is the CEO of Twitter.”
Musk has regularly made light of the controversy surrounding his chaotic stewardship of Twitter, and recently replaced its recognisable bird logo with the icon of cryptocurrency Dogecoin – a Shiba Inu like his dog Floki.
Musk also recently incurred the anger of his landlord (again), after the ‘w’ in Twitter was removed from signage outside the company’s San Francisco headquarters.
Now the headquarters building is marked as ‘Titter.’