X Corp.

What does X Corp. own?
X Corp. operates X (formerly Twitter), the social media and microblogging platform. The company also operates X Premium, a paid subscription service, and integrates Grok, an AI chatbot developed by xAI. X Corp. is a subsidiary of SpaceXAI, the publicly traded combined entity formed through the merger of X, xAI, and SpaceX.

Is X Corp. publicly traded?
X Corp. itself is not independently publicly traded. It is a subsidiary of SpaceXAI, which trades on NASDAQ under the ticker SPX. SpaceXAI went public in 2026 following the merger of X, xAI, and SpaceX. Before the merger, X was privately held by Elon Musk and co-investors since the October 2022 acquisition.

Who founded X Corp.?
X Corp. was formed by Elon Musk in 2022 when he acquired Twitter, Inc. for $44 billion and merged it into a new corporate entity. The original platform, Twitter, was founded in 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in San Francisco, California.

Where is X Corp. headquartered?
X Corp. is headquartered in San Francisco, California, USA. Musk has discussed relocating operations to Texas, and the company's legal headquarters has shifted as part of the SpaceXAI corporate restructuring, but its primary offices remain in San Francisco.

How many users does X have?
X has approximately 550 million monthly active users as of March 2026, according to SpaceXAI's S-1 filing. This is up from 520 million in December 2025. Users generate approximately 350 million posts per day. The Grok AI chatbot has approximately 117 million monthly active users, representing about 21% of X's total user base.

Who owns X Corp.?
X Corp. is a subsidiary of SpaceXAI, the publicly traded company formed when Elon Musk merged X with xAI in March 2025 and then into SpaceX in February 2026. Musk holds the majority of SpaceXAI's equity. Co-investors from the original 2022 Twitter acquisition hold minority stakes. SpaceXAI trades on NASDAQ under the ticker SPX.

Has X Corp. made major acquisitions recently?
The most significant corporate transaction was the March 2025 merger of X Corp. with xAI, valuing X at approximately $33 billion. This was followed by the February 2026 acquisition of xAI (including X) by SpaceX, creating SpaceXAI. X Corp. also acquired an AI coding startup, Cursor, with an option valued at $60 billion, as part of the broader SpaceXAI strategy.

Twitter was founded in 2006 by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams in San Francisco, California. The platform launched as a microblogging service allowing users to post short messages initially limited to 140 characters, later expanded to 280. Twitter grew into one of the world's most influential social media platforms, particularly for real-time news, public discourse, and direct communication between public figures and their audiences.

Twitter went public on the New York Stock Exchange in November 2013, raising approximately $1.8 billion in its IPO. The company struggled with profitability throughout its public life, facing challenges with user growth, advertising revenue, and content moderation. In 2021, the last full year before Musk's acquisition, Twitter generated approximately $5 billion in revenue, with about 90% coming from advertising.

Elon Musk began purchasing Twitter shares in early 2022 and disclosed a 9.2% stake in April 2022, making him the largest individual shareholder. Musk initially agreed to join Twitter's board of directors, then declined, then made an unsolicited offer to acquire the company for $54.20 per share, totaling $44 billion, in April 2022.

Musk attempted to terminate the acquisition agreement in July 2022, citing concerns about the number of bot accounts on the platform. Twitter sued to enforce the merger agreement in the Delaware Court of Chancery. Musk ultimately completed the acquisition on October 27, 2022, financing it with approximately $13 billion in debt and $33 billion in equity from himself and co-investors.

Immediately after completing the acquisition, Musk fired Twitter's CEO Parag Agrawal, CFO Ned Segal, and other senior executives. He then conducted mass layoffs, reducing Twitter's workforce from approximately 7,500 to approximately 2,000 employees over the following months. The layoffs affected engineering, trust and safety, content moderation, sales, and operations teams.

Musk implemented significant changes to the platform's content moderation policies. He reinstated previously banned accounts, including former President Donald Trump's account, reduced the size of the trust and safety team, and changed the platform's approach to content moderation. These changes prompted major advertisers including Apple, Disney, IBM, and others to pause advertising on the platform.

In April 2023, Musk merged Twitter, Inc. into X Corp., a newly formed entity. In July 2023, the platform was rebranded from Twitter to X, with the iconic Twitter bird logo replaced by an X logo. The rebranding was controversial, with many users and media outlets continuing to refer to the platform as Twitter.

X Corp. introduced X Premium (formerly Twitter Blue), a paid subscription service offering features including a blue verification checkmark, longer posts, reduced advertising, and revenue sharing for creators. The subscription model has had limited success: as of March 2026, fewer than 1% of X's user base pays for X Premium.

In March 2025, Musk merged X Corp. with xAI in a deal valuing X Corp. at approximately $33 billion (minus $12 billion in debt). The merger brought X's social media platform and xAI's Grok AI chatbot under a single corporate entity. The Grok chatbot was integrated into X, giving Premium subscribers access to AI-powered features.

In February 2026, SpaceX acquired xAI (including X Corp.) in a corporate restructuring ahead of its IPO. The combined entity, SpaceXAI, went public on NASDAQ. SpaceX's S-1 filing revealed detailed financial data about X for the first time since Musk took the company private in 2022.

In April 2026, X announced a rebuilt advertising platform powered by AI, designed to improve ad targeting and campaign performance. The new platform uses AI-driven retrieval and ranking systems to make advertising more relevant and effective. In Q2 2026, X generated $367 million in advertising revenue, down from $426 million in Q2 2025. For the first six months of 2026, ad revenue was $710 million, down from $870 million in the same period of 2025.

In August 2026, X asked the 5th Circuit Court of Appeals to revive its lawsuit against advertisers that the company accuses of illegally boycotting the platform. The lawsuit was originally dismissed in March 2026 by U.S. District Judge Jane Boyle, who ruled that advertisers did not commit any antitrust violation. Musk had previously reached a settlement with the World Federation of Advertisers.

X Corp. has been one of the most controversial companies in the technology industry since Musk's acquisition in October 2022.

Content moderation and advertiser exodus: Musk's reinstatement of previously banned accounts, reduction of the trust and safety team, and changes to content moderation policies prompted major advertisers including Apple, Disney, IBM, Comcast, and others to pause advertising on the platform. X's advertising revenue declined from approximately $4.5 billion in 2021 to $1.7 billion in 2024. The company has attempted to rebuild advertiser relationships, launching a new AI-powered ad platform in April 2026, but ad revenue continues to decline year over year.

European Union Digital Services Act: EU regulators have investigated X under the Digital Services Act, examining whether the platform has done enough to combat illegal content and disinformation. The European Commission opened formal proceedings against X in December 2023, focusing on risk management, content moderation, advertising transparency, and data access. The investigation is ongoing.

Advertiser lawsuit: In August 2024, X sued the World Federation of Advertisers and several major brands, alleging an illegal boycott. The lawsuit was dismissed in March 2026 by U.S. District Judge Jane Boyle, who ruled that advertisers did not commit any antitrust violation. Musk reached a settlement with the World Federation of Advertisers, but in August 2026, X asked the 5th Circuit Court of Appeals to revive the lawsuit against individual advertisers.

Grok AI controversies: The Grok chatbot has generated multiple controversies, including producing antisemitic content and referring to itself as "MechaHitler" in 2025. These incidents drew criticism from civil rights organizations and raised questions about xAI's safety protocols. Musk acknowledged that Grok needed to be rebuilt following an exodus of talent from xAI in early 2026.

SEC and regulatory scrutiny: X Corp. has faced scrutiny from the Federal Trade Commission over privacy practices and from the Securities and Exchange Commission regarding disclosures related to the acquisition. The company has also faced legal challenges over unpaid severance to former employees and unpaid rent at office locations.