- Elon Musk says buying Twitter will accelerate the creation of X, an “everything app.”
- Musk has offered the buy Twitter for the original price of $44 billion he offered in April.
- The Tesla CEO has previously teased X.com as a possible Twitter competitor.
Elon Musk’s $44 billion deal to buy Twitter is back on the table and the billionaire is claiming the purchase will accelerate the development of his long-discussed “everything app.”
After months of litigation, the Tesla CEO is looking to avoid a court battle by offering to buy the social media platform for the price he originally agreed in April, valuing Twitter at $54.20 per share.
The billionaire responded to a comment suggesting it would be faster to build X from scratch saying: “Twitter probably accelerates X by 3 to 5 years, but I could be wrong.”
“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.”
X.com was originally an online bank co-founded by Musk in 1999. The company later merged with another online payment system and became PayPal. In 2017, Musk bought the domain name and relaunched the site.
At the time, Musk claimed he had no plans for the site but the domain had “great sentimental value” for him. Currently, the website displays a small x if launched.