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- Musk has decided to follow through with the original offer to purchase Twitter for $44B
- Billionaire intends to close the deal to buy Twitter subject to certain conditions
- The conditions have not been disclosed
Elon Musk, CEO of Tesla and SpaceX, has hinted at the development of X, the everything app. He explained that his purchase of Twitter, a social media platform, is accelerating the development of X, which could cut the duration of the project by three to five years.
Elon Musk, CEO of Tesla, has made hints about the app’s creation. Musk wrote on Wednesday in response to a tweet explaining why he is buying Twitter:
Twitter is a catalyst for realizing X.com’s original vision.
Elon Musk’s “X, the Everything App”
In a follow-up tweet, he stated that Twitter could accelerate X by three to five years. He also tweeted on Tuesday that purchasing Twitter is an accelerant to creating X.
This was not the first time Musk had mentioned X. In August, when asked if he had considered starting his own social media platform in the event that the deal with Twitter does not materialize, the CEO of Tesla responded,X.com.
On Twitter, some individuals noted that Tesla CEO Elon Musk is obsessed with the letter X. First, Musk co-founded X.com, an online bank. In 2000, it merged with a rival company called Confinity Inc. and changed its name to Paypal.
In 2015, Musk purchased the domain name X.com once more from Paypal.The CEO of Tesla has also set up a few companies with the name “X Holdings,” such as “X Holdings I” and “X Holdings II,” which he used in his attempt to acquire Twitter.
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Musk has not disclosed any details of X
Musk shared his vision of what he wants Twitter to become with Twitter employees in June, but he has not provided any details about X. The CEO of SpaceX compared Wechat, a Chinese app that combines social media with games, payments, and even ride-hailing, to Spacex.
Musk has made the decision to go ahead with the initial offer of $44 billion after months of attempting to back out of the deal to acquire Twitter due to the number of spam bots and fake accounts.
Twitter was informed on Monday by his legal team that the billionaire intends to close the deal to acquire Twitter subject to a number of conditions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
