| Twitter has ceased to be an independent company after merging with a newly formed shell firm called X Corp, driving speculation about what Elon Musk intends for the social media platform.
The world’s second-richest man has professed his desire to make X similar to China’s WeChat, a super-app owned by Tencent Holdings used for everything from payments and booking event tickets to messaging. But he has been vague about how it will fit in with hisMr Musk also owns the domain “X.com” – the name of the online payments company he started and eventually merged with PayPal.
Its merger with Twitter was submitted on March 15. Mr Musk is president of the firm and its parent, X Holdings, which was also created last month and has an authorised capital of $US2 million, filings show. The recent changes were first reported by Slate. “It’s just harder to sue officers and directors of Nevada companies for breach of fiduciary obligations if you’re an investor.” Twitter was previously incorporated in Delaware, and Mr Musk’s battle over acquiring the company took place in its chancery court.Twitter, which no longer has a team handling media queries, did not respond to questions sent by Bloomberg News. Lawyers for the law firm representing Twitter in the case also did not immediately respond to a request for comment.
So, it turned from a corporate PC washing platform into another sort of platform where the owner actually discusses with the users what he wants to do with the platform?
He's literally turning himself into a cartoon villain🤣
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