Elon Musk says the Twitter purchase is a step towards The Everything App, plans to build X app

Elon Musk reversed course in his negotiations with Twitter earlier this week and reintroduced a $44 billion buyout offer. He also tweeted that "Buying Twitter is an accelerant to inventing X, the everything app, which may have been a clue to his potential plans for the social media site's future.

What, therefore, is "Elon Musk's X"? In the past, Musk has suggested that Twitter be developed into the next "super app," comparable to the multifaceted platforms used in Asia such as WeChat or Grab. The "Swiss army knife" of mobile apps, a super app, or what we refer as Musk's everything app, is said to offer a variety of services like texting, social networking, peer-to-peer payments, and online shopping. The billionaire's ambitious plan to increase Twitter's user base from 237 million to "at least a billion" users may also be accomplished by adding new tools and services to everything app.

Pretoria-born Elon Musk is prepared to move forward with the purchase of Twitter, provided the microblogging business drops its legal action against him.

This is because the world's richest person, Elon Musk, and Twitter are set to square off in court in Delaware later this month after the businessman changed his mind about signing a deal to buy the major social networking site.

A settlement between the two would, according to Reuters, put the world's richest person in charge of one of the most important media platforms and put an end to months of legal disputes that harmed Twitter's reputation and fueled Musk's reputation for acting erratically.

The latest step follows the businessman's surprising offer in April for exclusive control of the microblogging service, in which he entered into a binding agreement to buy Twitter for $54.20 per share in cash.

A few weeks later, Musk reversed course and collapsed the agreement, asking that the social media giant prove that fewer than 5% of its daily active users are automated spam accounts. The estimated transaction value had been $44 billion.

Musk, who is also the CEO of Tesla, retaliated against Twitter by filing a lawsuit to uphold the merger deal.

The most recent action comes after the businessman's unexpected bid for exclusive control of the micro-blogging service in April when he signed a legally binding deal to acquire Twitter for $54.20 per share in cash.

Several weeks later, Musk changed his mind and called off the deal, demanding that the social media juggernaut demonstrate that less than 5% of its daily active users are automated spam accounts. $44 billion was the projected deal value.

In retaliation against Twitter, Musk, who is also the CEO of Tesla, filed a lawsuit to defend the merger agreement.

"We write to notify you that the Musk parties intend to proceed to the closing of the transaction contemplated by the 25 April 2022 merger agreement, on the terms and subject to the conditions set forth therein and pending receipt of the proceeds of the debt financing contemplated thereby, provided the Delaware Chancery Court enter an immediate stay of the action, Twitter vs Musk, et a" Musk's attorneys write in a letter filed with the Securities and Exchange Commission (SEC).

Twitter responded by releasing the following statement: "We received the letter from the Musk parties which they have filed with the SEC. The company intends to consummate the deal for $54.20 per share.

Musk has revealed some of his ideas for Twitter, which would become a privately held business if the purchase is complete.

Musk posted on the micro-blogging site, "Buying Twitter is an accelerant to producing X, the everything app."

Since the buyout agreement was made public, Musk has made the problem of spam bots and free speech on Twitter one of his primary objectives.

Bots are automated accounts, and their use may cause overestimations of the number of human users, which is crucial for determining advertising rates and the service's overall worth.

In April, Musk stated that "free expression is the cornerstone of a healthy democracy, and Twitter is the digital town square where issues crucial to the future of humanity are argued."

"I also want to improve Twitter with new features, make the algorithms open source to boost trust, stop spam bots, and authenticate all users to make it better than ever. Twitter has a lot of potential, and I'm excited to work with the company and the user base to realize it.