According to a recent court document, Twitter Inc no longer exists on paper. It has merged with a company called X Corp. Here's everything you need to know. Twitter Inc is no longer an independent company after it was merged with a shell company called X Corp. A court filing revealed that Twitter no longer exists legally and billionaire Elon Musk’s X Corp has absorbed it. A court document submitted in a California court on April 4 suggested that Twitter no longer exist. Twitter Inc. has been merged into X Corp. and no longer exists. X Corp. is a privately held corporation, incorporated in Nevada, and with its principal place of business in San Francisco, California,” read the court document. This comes at a time when Twitter is going through sweeping changes after multiple waves of layoffs at the company after Musk’s takeover. While the chain of events since Twitter’s takeover has led to a lot of speculation and uncertainty, the new revelation provides some clues about Musk’s plan for the company. The world’s second-richest man has long desired to make X, similar to China’s WeChat – a superapp owned by Tencent Holdings Limited that can be used for everything from payments and booking event tickets to messaging. It may be noted that Musk also owns the domain X.com, which is the name of the online payments company he started and eventually merged with PayPal. While Elon Musk first set up a trio of holding companies in Delaware with a variation of the name “X Holdings” in April last year, X Corp was established on March 9 in Nevada, as per records filed in the state. X Corp’s merger with Twitter was submitted on March 15. Filings show that Elon Musk is the president of the firm and its parent, X Holdings Corp, which was also created last month and has an authorized capital of $2 million.
