Musk has liquidated Twitter Inc. - The social network has a new owner

American billionaire Elon Musk has acquired Twitter, which owns the social networking site of the same name, in the autumn of 2022. As it turns out, Twitter has a new owner.

Here's What We Know

Twitter Inc. no longer exists. X Corp. completed its takeover last week on 4 April 2023. This was revealed in court documents that relate to the case between Twitter and Laura Loomer. The social network blocked the user's account in 2019.

Elon Musk has promised to turn Twitter's app into the equivalent of China's WeChat, which has long ceased to be a simple messenger. The takeover of Twitter Inc. by X Corporation, which is owned by Musk, is probably a step in that direction. Details of the deal have not yet been specified.

A year ago, Elon Musk incorporated X Holdings I, X Holdings II and X Holdings III in Delaware. Twitter was supposed to merge with X Holdings II, retain its corporate structure and name, and X Holdings III would take over the repayment of the $13 billion loan that Elon Musk had executed on Twitter when he bought the company.

Within a year, however, the billionaire had changed plans. In early March, Musk incorporated X Holdings Corp. i X Corp. The merger of X Holdings I with X Holdings Corp. and X Corp. with Twitter Inc. was then formalised.