X, the reason for Elon Musk to buy Twitter

The Entrepreneurial Billionaire Elon Musk revealed the reason he bought Twitter. In a post on the social network, he mentioned that she plans to create X, the app for everything.

This is not the first time that the businessman mentions this enigmatic portal. In 2017, Musk bought the X.com domain, assuring that it had sentimental value since it bore the name of an online bank that he had co-founded in 1999 and that for 16 years belonged to PayPal.

Twitter accepted Elon Musk’s purchase proposal for $44 billion, the price agreed in April

At that time the fate of X.com was uncertain, however, in a meeting with a Tesla shareholder he had indicated that he had “sort of a grander vision of what I thought X Corporation could have been in the past… It is a pretty grandiose vision and of course you could start from scratch, but I think Twitter would speed that up by three to five years,” Yahoo Finance reported.

In the last five years the portal has not changed and only an X can be seen on a white background. Musk revealed that with the purchase of Twitter his project could be accelerated from 3 to 5 years.

Although great details of the project are not known, it could be linked to a social network that has less censorship and that avoids what almost puts the purchase of Twitter at risk: bots. In a presentation in May obtained by The New York Times, it was detailed that the product could be implemented in 2023 with 9 million subscribers in one year and by 2028 it would have already reached 104 million.

This Tuesday Twitter and Musk agreed to buy and sell the social network for 44,000 million dollars, the price proposed last April. This is also expected to put an end to the judicial conflict between the two.

The agreement could already be sealed between Thursday and Friday.

The announcement “is a clear signal that Musk recognizes that his chances of winning against the (Twitter) board in a Delaware court are very low, and that the $44 billion purchase will happen one way or another.” Wedbush Securities analyst Dan Ives said. (YO)