comscore Elon Musk is planning to launch new social media site to compete with Twitter
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Elon Musk teases his own new social media site X.com amid tussle with Twitter

Tesla CEO Elon Musk has teased the launch of a new social media website named X.com amid the legal battle with Twitter.

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Tesla CEO Elon Musk has teased the launch of a new social media website named X.com amid the legal battle with Twitter. Also Read - Tesla rival Fisker to launch electric SUV in India next year, may consider local production

X.com used to be the domain name of a startup Musk founded two decades back, which he later merged with financial services company PayPal. Also Read - South Korean govt YouTube channel hacked, streamed Elon Musk video

When asked has he thought about creating his own social platform if the Twitter deal doesn’t come through, Musk replied: “X.com.” Also Read - Twitter Edit button finally made official with a Tweet, coming soon to select users

After selling its electric vehicle company shares worth nearly $7 billion, the Tesla and SpaceX CEO said he would repurchase Tesla stock if the Twitter deal did not close.

When asked by a user on the microblogging platform if he is done selling Tesla stock, the tech billionaire replied affirmatively.

“Yes. In the (hopefully unlikely) event that Twitter forces this deal to close *and* some equity partners do not come through, it is important to avoid an emergency sale of Tesla stock,” Musk wrote on Twitter.

Meanwhile, while replying to another user who asked “If the Twitter deal does not close, will you buy Tesla stock again,” Musk replied, “Yes.”

As per a report, Musk sold 7.92 million company shares worth around $6.88 billion.

Musk’s transactions occurred between August 5 and August 9, the US Securities and Exchange Commission (SEC) filings revealed, following Tesla’s 2022 annual shareholder meeting on August 4 in Austin, Texas.

Musk and Twitter are locked in an intense legal battle over cancellation of the $44 billion takeover deal, and the five-process will start in a US court from October 17.

–IANS

  • Published Date: August 12, 2022 1:55 PM IST
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