Elon Musk’s filings in court exposed that Twitter Inc. has been dissolved. The filing also shows that the microblogging service has been aligned with a newly formed shell company called X Corp, which is a part of X Holding company owned by Elon Musk.
The billionaire entrepreneur has long visualized how to grow his business empire through means. Although his immediate actions may jeopardize the market, he is well known for finding easy means to balance and organize the entire sector.
He visualizes making X more like WeChat, a China-based power app owned by Recent Holdings Ltd that is used for everything either chat or payment. Therefore, with Elon’s control over “X.Com” and his acquisition of Twitter. He may already have oversight on how his new business structure will look like.
If Elon Musk could achieve his aim, X Corp could dominate the tech industry, challenging the others like Amazon, Facebook, and Google.
It is well known that ever since Musk gained ownership of Twitter, which he bought for US$44 billion last year, its features have transitioned a lot. He tried to change the old blue Twitter bird to a Dogecoin sign, but the people resisted it. Then he introduced payments for verification marks and subscriptions for the fancy blue tick, which was challenging to Twitter fans.
However, the entrepreneur’s involvement in Twitter and the establishment of X Corp could represent a redirection of concentration on Twitter.
Musk, who has had a track record of redefining what is possible or not, causing major shifts in different sectors, has been vocal about his belief that technology could change every aspect of online life, not just social media or even finance. With this focused platform, he may well be on his way to achieving this goal.
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