Twitter becomes X Corp as Musk merges it with his 'everything app'

Reuters file photo
Reuters file photo

The Tesla chief had tweeted about the move with the single character 'X'

By Web Desk

Published: Tue 11 Apr 2023, 7:38 PM

Last updated: Thu 13 Apr 2023, 11:58 AM

Twitter Inc. has ceased to be an independent company after billionaire owner Elon Musk merged it with his "everything app", according to news reports.

This came after came after a court filing earlier by conservative activist Laura Loomer. A document was submitted in a California court on April 4 for a lawsuit filed against the company and its former chief executive officer, Jack Dorsey.

"X Corp. is a privately held corporation. Its parent corporation is X Holdings Corp. No publicly traded corporation owns 10% or more of the stock of X Corp. or X Holdings Corp.," a legal document stated in the report.

After the court filing, Musk revealed that Twitter Inc. no longer exists as his other company. X Corp. had reportedly absorbed Twitter Inc.

Musk had said earlier after buying Twitter for $44 billion that the move was eventually "an accelerant to building X, the "everything app."

The Tesla chief had also tweeted about the move on Tuesday with the single character “X”.

X Corp. was set up on March 9 in Nevada with its merger with Twitter submitted on March 15, according to records filed in the state.

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