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

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

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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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