X Holding Corp.
| Parent company | |
| ISIN | 🆔 |
| Industry | |
| Founded 📆 | |
| Founder 👔 | Elon Musk |
| Headquarters 🏙️ | , U.S. |
Area served 🗺️ | Worldwide |
| Members | |
Number of employees | |
| Subsidiaries | X Corp. |
| 🌐 Website | [Lua error in Module:WikidataIB at line 665: attempt to index field 'wikibase' (a nil value). ] |
| 📇 Address | |
| 📞 telephone | |
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|---|---|---|
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Intro
X Holdings Corp. is an American social media and technology company. It is the parent company which owns X Corp., a subsidiary company operating the social networking service Twitter.[1][2]
Creation of the company
Elon Musk planned the merger with Twitter Inc. and registered three separate companies to facilitate the purchase. All three companies, X Holdings I, II, and III were registered in Delaware to facilitate the purchase of Twitter.
X Holdings I, owned and led by Musk, was intended "solely for the purpose of engaging in, and arranging financing for, the transactions". After Musk's purchase of Twitter was finalized, X Holdings I oversaw Twitter Inc., while X Holdings III handled the cash and took on a $13 billion loan.[1]
On March 9, Musk registered two new companies in Nevada, and thereby under Nevada state law: X Holdings Corp. and X Corp.
Following the registration of the Nevada companies, Musk applied to merge the Nevada businesses on March 15, first with Delaware-based X Holdings I merging with Nevada-based X Holdings Corp.; and second with Twitter Inc. merging with X Corp.[1]
The merger mandated that X Corp. fully acquire Twitter such that "Twitter Inc." no longer exists as a Delaware-based company.[2]
References
- ↑ 1.0 1.1 1.2 Pahwa, Nitish; Joseph Stern, Mark (April 10, 2023). "Twitter Isn't a Company Anymore". Slate. Archived from the original on April 18, 2023. Retrieved July 23, 2023. Unknown parameter
|url-status=ignored (help) - ↑ 2.0 2.1 "Twitter becomes X Corporation as Musk advances 'everything app' hopes". The Irish Times. Retrieved 2023-07-24.
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