Shulou(Shulou.com)11/24 Report--

Aug. 11 (Xinhua) on Tuesday, local time, Tesla CEO Elon Musk hinted that he would start his own social platform if he had not been forced to complete the $44 billion acquisition of Twitter.

Musk was asked on Twitter on Tuesday if he would launch his own social networking site, and he simply replied "X.com". Earlier, Musk was revealed to have sold $6.9 billion worth of Tesla shares, possibly in preparation for being forced to buy Twitter.

Speaking of the sale of Tesla shares on Twitter, Mr Musk said: "if Twitter asks the court to forcibly complete the transaction and some equity partners are unable to complete the transaction, it is very important to avoid an emergency sale of Tesla shares."

This is not the first time Musk has hinted at a direct competitor to launch Twitter. Before proposing to buy Twitter, Mr Musk told Palag Agrawal, the company's chief executive, that he had considered creating his own social platform.

More importantly, Twitter listed the idea as a cause of concern in its lawsuit against Mr Musk, saying they thought Mr Musk might be compiling the company's internal data and trying to copy its model.

At Tesla's annual general meeting last week, Mr Musk commented on the website he bought back from PayPal in 2017. "I do have a bigger vision, which is that I think X.com may return to its former glory," he wrote. "it's a pretty grand vision, and of course you can start from scratch, but I think Twitter will speed up the process by three to five years."

X.com was originally an online bank co-founded by Musk in 1999. The company eventually merged with another payment system, Confinity, and later PayPal,eBay bought PayPal for $1.5 billion in 2002.

In 2017, Musk bought the domain name "X.com" from PayPal, saying the site had "great emotional value" and reopened the site. At the time, he said he had no plans. Today, if you visit this site, it only shows a blank page, and there is a small "X" sign in the corner of the page. The site has remained largely unchanged in the past five years.

If X.com does become a substitute for some kind of social network or Twitter, Musk may focus on eradicating robots on the site and minimizing censorship. The billionaire has always been a strong critic of robots on Twitter.

Musk may not have decided whether to set up his own social network, as his court battle with Twitter will begin in October. Twitter said it hoped the court would force Mr Musk to buy the platform in accordance with an agreed agreement. In recent weeks, Twitter has subpoenaed many of Musk's close business partners and friends.

The case will be heard in Delaware Chancery. Last month, when Justice Kathaleen St. J. McCormick of the Court of Justice agreed to speed up the trial, Twitter seemed to have won its first battle with Musk.

Several experts had previously said that Mr Musk faced an uphill battle in his efforts to get rid of the deal as a result of the acquisition contract signed earlier this year.

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