Who Owns X (Formerly Twitter)? A Brief History of the Company 2023

Below is the history of X (formerly Twitter) and who currently owns the company.

Main lesson

• Twitter, now known as X, is owned by Elon Musk after he acquired the company for $43.2 billion in October 2020.
• Before Musk, Twitter was a publicly traded company with institutional investors and notable shareholders like Prince Alwaleed bin Talal of Saudi Arabia and co-founder Jack Dorsey.
• Twitter was founded in 2006 and has had leadership changes over the years, with Jack Dorsey holding the dual title of CEO and Parag Agrawal currently holding the position. Musk’s acquisition of Twitter brought notable changes to the company, including a name change to X and the implementation of new policies and layoffs.

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In 2006, a little-known startup called Twitter exploded onto the tech scene. Today, the company (since renamed “X”) is one of the most recognizable brands in the world. As of 2023, the site has more than 450 million monthly active users.

The people who started Twitter no longer run X. So who is behind it now and how did it become the giant it is today? Let’s take a look at the brief history of this social media powerhouse.

Who owns Twitter (X) now?

Twitter is owned by Elon Musk, CEO and founder of Tesla. Musk acquired Twitter in October 2022 for $43.2 billion. The timeline of the Twitter deal follows a six-month saga in which Musk expressed interest in acquiring Twitter, canceled the deal, was sued, and ultimately went ahead with the sale.

Who owned Twitter before Elon Musk?

Twitter is a publicly traded company, meaning it is owned by many shareholders. As of April 2022, institutional investors make up the majority of Twitter’s shareholders, with Vanguard Group topping the list as the largest shareholder according to Yahoo Finance.

Other notable shareholders include Prince Alwaleed bin Talal of Saudi Arabia and Jack Dorsey, one of the company’s co-founders.

How did Twitter start? (2006 – 2013)

Image source: Ryan Lash – TED Conference/Flickr

Twitter was founded in March 2006 by Jack Dorsey, Noah Glass, Biz Stone and Evan Williams. The company’s original idea came from Dorsey, who devised a service that allowed for brief, text-based updates from anywhere in the world.

Dorsey sent his first tweet (which he later sold as an NFT) on March 21, 2006, and simply said “just setting up my twttr”. Within months, Twitter had attracted a small but devoted following from its early adopters. In 2008, Dorsey was fired as CEO but he would return to the company in 2015.

Twitter as a Public Company (2013 – 2022)

Twitter went public in November 2013, debuting on the New York Stock Exchange under the ticker symbol “TWTR”. In the years since its public launch, Twitter has continued to grow. The company has acquired several other startups, including Periscope (a live streaming app) and Vine (a short-form video platform). Twitter also leads the way in developing new features, such as hashtags and live video.

There are many highlights in Twitter’s history, but perhaps the most notable are the leadership changes that have occurred over the years. Jack Dorsey, the company’s co-founder, served two terms as CEO, with Dick Costolo and Evan Williams serving in between.

In November 2021, Dorsey stepped down as Twitter CEO for the second time, handing over the reins to Parag Agrawal.

The Musk Years (2022 – Present)

Tesla CEO and founder Elon Musk acquired Twitter in October 2022. Musk’s early period leading the company was chaotic as he immediately began making major changes. These include changing the company name to X, making profile verification a benefit of paid memberships, and revoking verification of old unregistered accounts. Musk also began laying off a series of employees.

In December 2022, Musk created a poll asking whether users of the platform felt he should continue as CEO, and a majority voted in favor of him stepping down. In May 2023, Musk appointed his replacement as CEO of Twitter. Musk moves on to become CTO and Executive Chairman – although it doesn’t appear that much has changed in terms of Musk’s involvement.

X’s leadership change reflects the challenges the company has faced in recent years. From difficulties in growing its user base to difficulties in monetizing, X has encountered many controversies. The company has also been embroiled in several controversies, including accusations of “willful ignorance and serious security lapses” by the company’s former chief security officer.

What does the future hold for X?

X has been through a lot in its history, but it remains one of the most popular social media platforms in the world. The platform has been used to facilitate political revolutions, spread news stories, and connect people from around the world.

Whatever the future holds for

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