Amid the ongoing legal battle with Twitter, tech billionaire Elon Musk recently made a cryptic reference to his potential plans to launch his own social media platform.
Responding to a question from one of his followers, Mr Musk revealed the name of the apparent website. “Have you thought about creating your own social platform? If Twitter deal doesn’t come through?” the ‘Tesla Owners Silicon Valley’ Twitter account asked. “X.com,” Mr Musk replied.
— Elon Musk (@elonmusk) August 10, 2022
The Tesla CEO did not share any further details about the website or what he meant by sharing the link. But, according to New York Post, “X.com” was the domain name associated with a financial services startup that Mr Musk founded in 1999 and eventually merged with PayPal.
Back in 2017, Mr Musk reacquired the domain name from PayPal and soon after he announced that he had re-launched the site, which is currently completely blank except for a small “x” on the top left centre of a white screen.
Meanwhile, Mr Musk’s recent interaction comes after it was reported that he had sold Tesla shares worth $6.9 billion over the last several days. The tech billionaire said that the transactions were meant to protect against the need to conduct a “fire sale” in the event he is eventually forced to buy Twitter under the original terms.
Twitter is locked in a legal battle with Mr Musk over his effort to walk away from the April agreement to buy the company, and a judge has ordered that a trial will begin in October. The tech billionaire filed a countersuit, accusing the social media website of fraud and alleging that Twitter misled him about key aspects of its business before he agreed to a $44 billion buyout. Twitter, on the other hand, is trying to enforce the billionaire to keep his promise, to pay $54.20 a share for the company.