Leaders.com
  • Login
  • Subscribe
  • Business
  • Leadership
  • Wealth
  • Master Classes
  • Business
    • Entrepreneurs
    • Executives
    • Marketing and Sales
    • Social Media
    • Innovation
    • Women in Business
  • Leadership
    • Personal Growth
    • Company Culture
    • Public Speaking
    • Productivity
    • Hiring
    • Social Issues
    • Leaders
  • Wealth
    • Investing
    • Cryptocurrency
    • Retirement
    • Venture Capital
    • Loans and Borrowing
    • Taxes
    • Markets
    • Real Estate
  • Master Classes
  • Login
  • Subscribe
Social Media Twitter

Twitter has merged with a shell company called X Corp (Kena Betancur/VIEW press)

By Tyler Hummel Leaders Staff

Tyler Hummel

Tyler Hummel

Tyler Hummel is a news writer for Leaders Media. He was the Fall 2021 College Fix Fellow and Health Care...

Full bio


Learn about our editorial policy

Apr 11, 2023

Twitter No Longer Exists—As Twitter 

Twitter CEO Elon Musk has ambitious plans to transform Twitter into a larger financial platform—and the first steps have been taken toward this goal, of changing the corporate name and structure. 

Key Details

  • Elon Musk tweeted “X” on Tuesday, teasing his intentions for what he plans to turn his $44 billion social media investment into. 
  • In April 2022, Musk opened three shell companies in Delaware under the name “X Holdings.” 
  • In November, Twitter previously filed paperwork with the U.S. Treasury for licenses to develop the website into a payment processor.
  • On March 9, Musk set up X Corp in Nevada and subsequently filed to merge the company with Twitter on March 15. 
  • As of April 4, Twitter no longer exists as a singular entity and has successfully merged the two companies, Bloomberg reports.

Why It’s News 

As we previously reported, Elon Musk has long held ambitions to create an online-payments company, having helped found PayPal and registered the domain X.com for further features he did not get to implement into the startup.  

Musk has ambitions to transform the social-media platform into a company worth $250 billion, and he says he can do it by integrating ideas that he wasn’t able to use at PayPal to change the financial world online for the better, turning Twitter into “the biggest financial institution in the world.” 

Twitter is still a long way off from this point. Musk recently announced that Twitter’s valuation was likely less than $20 billion, well below what he paid mostly out of pocket to purchase the platform in October 2022. Considering that he previously succeeded in raising Tesla’s valuation from $25 billion to $700 billion in six years, his vision for Twitter remains within the realm of possibility. 

Backing Up A Bit 

The online activity of the serial entrepreneur has soured public perception of his work—with his erratic behavior, hostility toward the media, and propensity to release partisan memes on his personal page drawing him scrutiny. 

He recently changed his screen name to “Harry Bolz,” after setting Twitter’s press email address to respond to media requests automatically with poop emojis. He also attempted to remove the “w” from the San Francisco Twitter location for the sign to display “Titter.”

Several of the companies under his direction have suffered in the short term. Tesla saw a significant drop in stock valuation earlier this year after failing to meet promised growth targets, while NASA administrators have raised alarms about his ability to keep Space X on schedule. 

Home / News / Twitter No Longer Exists—As Twitter 
Share
FacebookTweetEmailLinkedIn

Related Stories

A 10th Consecutive Interest Rate Hike 

by Tyler Hummel Leaders Staff
Public Policy

7 hours ago

The Federal Reserve announced another 25-basis-point interest rate hike, marking the 10th consecutive hike bump in 14 months.  

Key Details

  • Federal Reserve Chair Jerome Powell ended the May Fed meeting by announcing that another 25-basis-point interest rate hike is being implemented, bringing rates to 5% to 5.25%. 
  • Stocks saw a brief bump after the announcement before taking a larger dive afterward, with major indexes mostly breaking even in the hours leading up to the market closing. 
  • Powell acknowledged that an additional rate hike in June might be necessary, depending on how receptive the economy is to the new rates.

Go deeper

FacebookTweetEmailLinkedIn

These Hidden Real Estate Fees Cost Buyers

by Hannah Bryan Leaders Staff
Real Estate

7 hours ago

real estate fees

Home buyers might end up paying more than expected with hidden administrative fees realtors have begun adding on. 

Key Details

  • When purchasing a home, buyers are subject to many fees that raise the overall payment, but one newer fee is frustrating buyers. 
  • These administrative or transaction fees may cost buyers up to $1,000.
  • Brokerages often charge this fee to cover any extra expenses that may arise while processing the paperwork, but with little oversight, there is plenty of room for abuse.
  • While proponents of this fee argue that adding it to agents’ commissions helps brokerages stay in business, others argue that it is an overt cash grab.  

Go deeper

FacebookTweetEmailLinkedIn

And the Jobs Just Keep Coming

by Hannah Bryan Leaders Staff
Business

8 hours ago

hiring continues

Private companies increased hiring during the month of April despite predictions for a cooling job market.

Key Details

  • Private payrolls increased by 296,000 in April, counteracting market predictions, according to a report from payroll processing firm ADP. 
  • The Dow Jones estimate for the month was 133,000. April marked the highest monthly gain since July 2022.
  • The hiring surge comes despite the Federal Reserve’s attempts to slow economic growth and weaken the labor market to cool inflation. 
  • So far this year, more than 800,000 jobs have been added to the market. The imbalance in supply and demand has resulted in solid wage gains that add to inflation pressures, CNBC reports. 

Go deeper

FacebookTweetEmailLinkedIn
Public Policy

10 hours ago

The Fight Against ESG Continues 

by Tyler Hummel Leaders Staff
apple account
Investing

10 hours ago

Apple’s $1 Billion In ‘Savings’

by Hannah Bryan Leaders Staff
Environment

11 hours ago

The Changing Views On Nuclear Power 

by Tyler Hummel Leaders Staff

Recent Articles

Personal Growth

13 hours ago

10 Intriguing Indicators of a Highly Empathetic Personality

Empaths have a variety of strengths, but they can be overwhelmed by emotions. Learn how to strike a balance.

Productivity

May 2, 2023

Beat Distraction by Mastering Time Blocking 

Get into a state of deep work by scheduling your day in blocks of time.

Personal Growth

May 1, 2023

How Adaptability Can Make or Break Your Career in the Coming Years

The business world is always changing, making adaptability a necessary skill.

  • Business
  • Leadership
  • Wealth
Join the Leaders Community

Get exclusive tools and resources you need to grow as a leader and scale a purpose-driven business.

Subscribing indicates your consent to our Terms & Conditions and Privacy Policy

Leaders.com
  • Privacy Policy
  • About
  • Careers
  • Cookie Policy
  • Terms
  • Disclosures
  • Editorial Policy
  • Member Login

© 2023 Leaders.com - All rights reserved.

Search Leaders.com

x