Elon Musk is always making headlines. Sometimes it’s for his business savvy and other times it’s for drama in his personal life. This time however, Musk is in the news for his attempt at buying Twitter. The deal might not go as planned but Musk may have a backup plan if it doesn’t, wait until you see what it is.
Twitter may not be the only option for Musk to be a Social media company owner. It’s no secret that Elon Musk is a genius when it comes to technology. And his latest project might just give Twitter a run for its money.
As reported by the Daily Wire, Elon Musk suggested Wednesday that he might start his own social media platform if he decides not to buy Twitter. Musk, who previously proposed to buy Twitter for $44 billion, claims Twitter’s reported 5% of false accounts is inaccurate – possibly as high as 33%. Due to this, the multibillionaire is locked in a legal battle with the company, which is trying to force the sale through.
In an exchange on Twitter about his recent sale of $6.9 billion in Tesla stock, Musk explained that he is avoiding an “emergency sale” of shares in the event Twitter forces the deal to close.
Musk simply replied with a URL for “X.com.” when asked if he would launch his own social media platform if the deal were terminated.
Musk co-founded X.com in 1999, which merged with Confinity the following year to become PayPal. According to Business Insider, Musk purchased the domain name from PayPal in 2017 citing “sentimental value.” There is currently nothing on the site except a small black “X.”
Musk mentioned X.com at a Tesla shareholder meeting, according to the outlet. “I do sort of have a grander vision for what I thought X Corporation could have been back in the day,” Musk said. “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.”
Musk, the world’s richest man, has said that he does not “care about the economics” of the potential Twitter acquisition “at all,” repeatedly citing the need to address the lack of free expression on the platform.
In October, a trial is scheduled to determine the outcome of the acquisition deal.
Elon Musk is the richest man in the world for a reason – he’s smart and capable. If the deal with Twitter doesn’t go through then he may just start his own social media platform that could seriously rival the giant. Do you think Musk will get the Twitter acquisition or will he have to make his own platform?