Intro X
Conceptualization and Planning
The concept for X solidified in October 2022, when Musk tweeted that acquiring Twitter is "an accelerant to creating X, the everything app". According to Musk, Twitter would accelerate the creation of X by "3 to 5 years". Musk expressed interest in creating an app similar to WeChat—a Chinese instant messaging, social media, and mobile payment app—on a podcast in May 2022.
Formation and Structuring
In March 2023, Musk registered X Holdings Corp. and X Corp. in Nevada. On the same day, Musk registered the artificial intelligence (AI) company X.AI. Later that month, Musk applied to merge X Holdings I with X Holdings Corp. and Twitter, Inc. with X Corp. In the filing, Musk revealed that X Holdings Corp. will also serve as the parent company for X Corp.
The X App
The X App
X Corp. currently owns Twitter. In an April 4, 2023 court filing, Twitter, Inc. disclosed that it no longer existed and was consolidated into X Corp. The corporation was created on March 9, 2023. Musk touted X once again as the potentially "biggest financial institution in the world". On October 27, 2022, Musk acquired Twitter for US$44 billion, and subsequently became its CEO.