Not content with simply buying the long-standing social media platform and changing the way it's run, Elon Musk has decided on his next major move with Twitter (TWTR) -- killing it altogether.
On April 10, Slate exclusively reported that a court filing was made on Tues., April 4 which reads, "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."
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"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.," the legal document continued.
Far-right activist Laura Loomer, who is currently suing Twitter with claims it violated federal racketeering laws, shared photos of her own documents on her Twitter account in the early hours of April 11.
'Everything' Everywhere All at Once
While the move may seem to be erratic at first, it's one Musk has been plotting for a long time. In Oct. 2022, he tweeted about buying Twitter as being an "accelerant" to creating what he calls "X, the everything app."
Musk has also publicly mentioned another business that has built the model he is inspired by: WeChat, which is owned by Chinese media giant Tencent (TCEHY) . The platform has over a billion active users and offers messaging, social media, and payment app capabilities.
"If you're in China, you kind of live on WeChat," he said. "It does everything — sort of like Twitter, plus PayPal, plus a whole bunch of things, and all rolled into one, with a great interface. It's really an excellent app, and we don't have anything like that outside of China."
Musk seems to have forgotten that Meta's (META) Facebook does all those things, but as usual, he probably has something else up his sleeve.
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