Elon Musk, the billionaire entrepreneur and CEO of companies Tesla and SpaceX, announced his confidence in the success of X social media on Tuesday, vowing that the Twitter rebrand would make the platform the "most valuable brand on Earth."
Musk's statement came in response to a US media article that estimated the rebranding could potentially decrease Twitter's value by $4 billion to $20 billion. Nevertheless, Musk remains undeterred, envisioning "X" as a comprehensive communication platform that also offers robust financial transactions.
The potential integration of payment systems into Twitter/X has sparked speculation that users may soon be able to send and receive money directly through the platform. Musk foresees these payment capabilities potentially becoming half of the global financial system.
While specific details about the payment systems have not been revealed, Musk emphasized the importance of executing them correctly for the magnum opus of Twitter/X to become a reality, noting his intentions to revolutionize the financial world.
Linda Yaccarino, Twitter's new CEO, has expressed enthusiasm about the transformation and hinted at more changes to come, signaling the company is just getting started. Under Yaccarino's leadership, the platform aims to fulfill its immense potential and meet the expectations of fans and critics alike.
With popular platforms such as TikTok vying for users' attention, critics have underscored that the success of Musk's rebranding strategy will undoubtedly face challenges as the viability of company's future remains uncertain.