Elon Musk has built a complex web of companies around Twitter.
, the mascot of Dogecoin. It appeared that Musk was simply not bothered about retaining the identity of Twitter and now we are just getting to know the reasons behind it.After Musk completed the takeover of Twitter in October last year, the company went private and its public relations department was shut down. Media outlets have reported time and again that requests for comments from the company now get a poop emoji as a standard response.
That it has ceased to exist came to light in the court filing on April 4, where Twitter a defendant told the court that it has been merged into X Corp and is owned by X Holdings Corp. In its report, Slate said that the change has been in the works since April 2022, when Musk made his $44 billion offer for Twitter. Back then, Musk registered X Holdings I, II, and III in the state of Delaware to acquire the social media platform. X Holdings II was to merge with Twitter, while III would take on the loan to finance the purchase while Holdings I would give Musk the ownership control over the entity.
This change is yet to reflect on legal documents but that might happen soon enough with Musk, tweeting this a few hours ago.Musk has previously said that he intended to change Twitter into a super app, much like WeChat in China which handles social media as well as payments for users. Whether this transformation to X is meant only for the platform or a company as a whole, where Musk forays into other media businesses in the near future remains to be seen.
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