The billionaire business tycoon, Elon Musk, had teased a potential social media site of his own as a competitor for Twitter. While responding to the question of one of his followers he hinted at a potential new social media platform ‘X.com’ “Have you thought about creating your own social platform? If the Twitter deal doesn’t come through?” the “Tesla Owners Silicon Valley” Twitter account asked, to which Musk replied; “X.com.”
— Elon Musk (@elonmusk) August 10, 2022
‘X.com’ is a grand vision: Musk
Later, the “Tesla Owners Silicon Valley” posted a video in which Musk can be heard saying; “I do sort of have a grander vision for what I thought X Corporation could have been back in the day. It’s a pretty grand vision and of course that could be started from scratch but I think Twitter would accelerate that by three to five years.”
Twitter could be a part of the bigger picture and grand vision of https://t.co/wFqW9E4tOk. ? it would accelerate that vision by 3-5 years. @elonmusk pic.twitter.com/F2T2xfvNs3
— Tesla Owners Silicon Valley (@teslaownersSV) August 5, 2022
While sharing the back story of the X corporation, Musk said that “X.com” was the domain name associated with a financial services startup that was co-founded by Musk in 1999 that eventually merged with another payment system and became PayPal which eBay bought for $1.5 billion in 2002. Later In 2017, Musk reacquired the X.com domain name from PayPal and announced that he had re-launched the site.
Musk Sells Tesla Shares as Possibility of Forced Twitter Deal Rises
Yes.
In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.
— Elon Musk (@elonmusk) August 10, 2022
In other news, Musk had sold $6.9 billion worth of Tesla shares, saying that the funds could be used to finance a potential Twitter deal if he loses a legal battle with the social media platform. He said in a tweet; “In the (hopefully unlikely) event that Twitter forces this deal to close and some equity partners don’t come through, it is important to avoid an emergency sale of Tesla stock.”
Read more: Musk v. Twitter: Judge Once Made a Rare Ruling Forcing the Deal to Close
