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Established by Elon Musk in 2023 as the successor to Twitter, Inc., it is a wholly owned subsidiary of X Holdings Corp., which is itself mostly owned by Musk. The company owns the social networking service X (formerly known as Twitter) , and has announced plans to use it as a base for other offerings.
Lawyers for X, formerly known as Twitter, fought to keep its full ownership structure under wraps. ... Musk acquired Twitter in 2022 for $44 billion, taking the company private and laying off ...
There are two types. Government-owned companies are legally normal companies but mainly or fully national owned. They are expected to be funded by their sales. A big customer might be the government or a government agency. The other type is government agencies which might also do activities competing with private owned companies.
For context, Fidelity initially invested $19.66 million in X through its mutual fund. Following the latest valuation cut, Fidelity now values its stake at 78.7% below the original investment.
[70] [71] The deal closed on October 27, 2022, with the merger between Twitter, Inc. and X Holdings II, Inc., a wholly owned subsidiary of X Holdings I, Inc., wholly owned by Musk, [72] and Musk took control of the company, [73] paying $54.20 per share, or about $44 billion.
The X rebrand may have a harder journey, Withey said, due to it being an unusual case of a high equity brand — one that was a cultural force for well over a decade — being renamed overnight.
This is a list of the world's largest non-governmental privately held companies by revenue. This list does not include state-owned enterprises like Sinopec, State Grid, China National Petroleum, Kuwait Petroleum Corporation, Pemex, Petrobras, PDVSA and others. These corporations have revenues of at least US$10 billion.
The social media site owned by Elon Musk also said the SEC did not have two-factor authentication enabled at the time the account was compromised and the hack was not due to any breach of X's ...