Twitter Inc., the company that Elon Musk acquired in October 2022, no longer exists. This is how the company has justified it In a recent court filing related to a lawsuit by Laura Loomer, a far-right activist who sued the aforementioned company for violating federal extortion laws after banning her account in 2019.
“Twitter, Inc. has merged with X Corp. and no longer exists”, can be read in the presentation published on April 4. In it, it is also mentioned that X Corp. is a private company, and its parent company is X Holdings Corp. Elon Musk, who owns both companies, has not officially mentioned anything about it, although the tycoon, as revealed slatecame to register in April 2022 up to three companies with practically the same name: Holdings I, Holdings II and Holdings II.
Precisely, these three companies are the ones that Musk has used to complete the purchase of Twitter. X Holdings Ispecifically, served as the parent company, while X Holdings II it was a subsidiary destined to merge with Twitter, although Musk allegedly agreed to maintain the corporate identity of the social network and, therefore, the Twitter brand. X Holdings IIOn the other hand, it was the company in charge of assuming the 13 billion dollar loan that Musk had to request from different entities in order to move forward with the purchase of the social network.
Later, and after the merger with Twitter, X Holdings II disappeared, so Twitter Inc. had become a subsidiary of X Holdings I at least until March 2023, when Elon Musk registered X Holdings Corp and X Corp. Weeks later, the tycoon wanted to merge his different companies. Now, therefore, Holdings I is X Holdings Corp, and Twitter Inc. is X Copr.
Elon Musk could bring Twitter, Tesla and SpaceX and the rest of their companies together into a parent company called X Holdings Corp.
Although, we reiterate, Elon Musk has not confirmed anything in this regard, everything indicates that the tycoon’s intention is bring together its main companies into a single parent company called X Holdings Copr. Musk, in fact, has spent years playing with the X as the key letter of his main businesses. See SpaceX, or the Tesla Model X, or the intention to create an app based on Twitter called, literally, ‘X’.
Musk also described it as a “good idea” a post on Twitter shared in 2020 by youtuber Dave Lee in which he said the following. “I propose to Elon Musk to form a holding company called X. X’s mission is to ensure human survival and progress. X would become the parent company of Tesla, SpaceX, Neutalink and The Boring Company. All these companies, in fact, are not only owned by the tycoon, but Musk is also listed as CEO.
In any case, and if Musk’s intention to create a parent company to bring together his different companies is officially confirmed, Twitter, the social network, would continue to be called Twitter. The mogul move, in fact, is something we’ve seen recently with Mark Zuckerberg’s parent company, formerly known as Facebook and now called Meta.