The report also highlights that the banks still chose to finance Musk’s deal, even though he admitted it was overvalued, likely due to the “allure of banking the world’s richest person.” While these banks have been able to collect hefty interest payments from X...
It's no secret that the somewhat hastyrebranding of Twitterharkens back to X.com, Musk's online banking project that merged with Confinity in 2000, which later became PayPal. And Musk believes his original vision for X.com is still feasible. ...
Elon Musk has risen to fame by founding some of the most innovative tech companies in the world today, including electric vehicle maker Tesla and space exploration company SpaceX. Today, Musk ranks as the richest person in the world, according to Bloomberg, largely thanks to his roughly 13 pe...
Elon Musk wants X to be a lot of things. From a social media service to a banking app, Musk and company have been persistent in its goal to make the platform formerly known as Twitter, an "everything" app. Unlike financial services, X users do currently post videos, so X TV isn'...
Musk paid $44 billion for the social media site in October 2022. As of March 31, the holding haslost an estimated 71.5% of its value—and the underperformance of those loans,reports theWall Street Journal, is the worst the banking industry has seen since the real estate crisis of 2008. ...
Musk’s description of where Twitter is heading was even simpler. His goal is to “transform” the social network into X, “the everything app.” Sure, that jargon all sounds like something Kendall Roy might say on Succession. But it’s also grounded in some amount of reality; apps like...
although Musk has told regulators that offering payments will "boost" X's business by increasing X users' "participation and engagement." Analysts told Bloomberg that X could also profit off payments by charging merchants fees or by "offering banking services, such as checking accoun...
They think "X marks the spot." Musk never wavered in this belief, not even when shown mounds of evidence that what most people really think of when they see "X.com" is...porn. His blind love led to a boardroom coup that overthrew him as CEO, and eventually ousted the X name — ...
Elon Musk is the founder and CEO of SpaceX, the CEO of Tesla and the owner and chief technology officer of X Corp. The billionaire entrepreneur also co-founded...
Elon Musk will rename Twitter to X and will gradually remove the blue bird branding. The owner of the social media tweeted the news during the weekend, causing a whirlwind of speculations, but newly appointed CEO Linda Yaccarino revealed X will be "the future state of unlimited interactivity -...