Elon Musk's X Corp officially absorbs Twitter, moving towards an 'everything app' vision

AP Photo/Benjamin Fanjoy, File

Elon Musk's X Corp has officially acquired Twitter, with plans to transform the platform into an all-encompassing "everything app" while maintaining its existing features and user base.

The news of this acquisition was not announced by Musk or Twitter, but instead came from failed congressional candidate Laura Loomer. In an April 4 court filing related to Loomer's ongoing lawsuit against Twitter and its former CEO Jack Dorsey, as well as Mark Zuckerberg and Meta, it was revealed that Twitter, Inc. had been merged into X Corp and no longer exists as a separate entity.

X Corp is a subsidiary of X Holdings Corp, which is incorporated in Nevada and headquartered in San Francisco, California.

On Tuesday, Musk tweeted a single letter "X," seemingly confirming the information disclosed in the court documents. Musk has long envisioned creating an "everything app," and he believes that acquiring Twitter will expedite the development of this app by three to five years.

https://twitter.com/elonmusk/status/1645684041264529408

According to Vox, Musk has praised China's WeChat app as a great example, emphasizing the app's usefulness in China and the opportunity to create a similar platform globally.

Musk has previously described his vision for a "blockchain social media system" that would combine payments and short text messages or links, similar to Twitter. Users would pay to register messages on the blockchain, and a "Twitter-like app" would provide access to the cloud-based database containing all messages sent to the blockchain.

The potential "X" app, based on Musk's recent actions, could become a heavily monetized, closed environment designed to keep users constantly engaged.

Musk has explored options such as expanding Twitter Blue, paid-for verification, charging bot makers for API access, and even auctioning off usernames. As a work-in-progress, Musk has made suggestions to restrict the "For you" feed to Twitter Blue subscribers, but quickly reversed this decision following user feedback.