![]() X and the Center for Countering Digital Hate (CCDH) This could potentially lead to the removal of Twitter from these platforms. Major contributors of Twitter, regarding the removal of the block, said that if such a feature were to be removed, Twitter would violate the App Store and Google Play Store policies. In response to backlash from anti-bullying activists received for removing the feature, chief executive Linda Yaccarino also stated that a new form of "Block" and "Mute" is currently being developed by X Corp. Musk suggested that a stronger version of "Mute" would replace the "Block" function. On August 19, 2023, Elon Musk posted a tweet on Twitter stating that the "Block" feature would be deleted on the platform, with the exception of direct messaging. Yaccarino also went on to say that if you had stayed with Twitter, then changes would only be "incremental" and that with X, they think about "what's possible". Yaccarino also opened up on the reasoning behind Twitter's "controversial" name change to X, wherein she stated that the rebranding was essentially a "liberation" from Twitter. In August 2023, CEO Linda Yaccarino stated that she has "operational autonomy" under owner Elon Musk to run the business, and that she's involved in everything that goes into running the company. Inspectors were twice denied roof access, and the city cited the company for a building code violation. 24 complaints were filed by neighbors concerned about the bright flashing light and structural integrity. The company erected a giant illuminated "X" on the roof of its San Francisco headquarters in July 2023 without obtaining required permits. This was later increased to a value of $27 billion by July, and up to about $28.5 billion by the end of August. Īt the end of May 2023, Fidelity Investments estimated the company's value at $15 billion. Yaccarino succeeded Musk on June 5, 2023. Musk said he will transition his role to executive chairman and chief technology officer. The next day, on May 12, he named Linda Yaccarino as the new CEO, adding that she "will focus primarily on business operations, while I focus on product design & new technology". On May 11, 2023, Musk tweeted that he had found his replacement as Twitter and X Corp.'s CEO. District Court for the Southern District of Florida. notified the court that it had been consolidated into X Corp., a Nevada corporation based in Carson City. In an April 2023 court filing for an ongoing lawsuit filed by political activist Laura Loomer against Twitter and its former CEO Jack Dorsey, Twitter, Inc. In a company-wide email that month, Musk announced that Twitter employees will receive stock in X Corp. will also serve as the parent company for X Corp. has $2 million in capital X Holdings Corp. In the filing, Musk revealed that X Holdings Corp. Later that month, Musk applied to merge X Holdings I with X Holdings Corp. On the same day, Musk registered the artificial intelligence (AI) company X.AI. On October 27, 2022, Musk acquired Twitter for $44 billion, and subsequently became its CEO. In a Morgan Stanley conference in March 2023, Musk touted X once again as the potentially "biggest financial institution in the world". ![]() In June, Musk told Twitter employees that Twitter is a "digital town square" that should be all-encompassing, like WeChat. ![]() 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. According to Musk, Twitter would accelerate the creation of X by "3 to 5 years". The concept for X solidified in October 2022, when Musk tweeted that acquiring Twitter is "an accelerant to creating X, the everything app". Musk reaffirmed his support for the name "X" in December 2020, replying to a Twitter user who renewed calls for Musk to form a new holding company under that name, although he dismissed the idea of X acquiring his businesses. In July 2017, Musk reacquired the domain X.com, for an undisclosed amount, from PayPal. Musk considered forming a holding company named "X" for Tesla, Inc. In March 2000, X.com merged with competitor Confinity to create PayPal. The name "X" dates back to X.com, an online bank co-founded by Musk in 1999. A third entity would then help take on a US$13 billion loan provided by various large banks to acquire Twitter. According to the filings, one of the entities was to merge with Twitter, Inc., while another was to serve as the parent company of the newly merged company. In April 2022, filings to the Securities and Exchange Commission (SEC) revealed Musk had formed three corporate entities in Delaware, all under the name of X Holdings. Further information: Acquisition of Twitter by Elon Musk and Twitter under Elon Musk
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