Threat For Tinder, Bumble? Tesla CEO Elon Musk Reportedly Reveals Plan To Turn X Into Dating App, Digital Bank By 2024

Tesla CEO Elon Musk reportedly unveiled surprising plans for his platform X during a company-wide meeting.

What Happened: Challenging the realms of Tinder and Bumble BMBL, Musk said he intends to transform X into a full fledged dating site and a digital bank by 2024, Business Insider reported.

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The Thursday meeting, marking one year since Musk took over X, then Twitter, was largely spent discussing the platform’s product changes. Musk’s unexpected vision for X’s future was revealed during the call. However, details on how X would transition into a dating platform remained unclear.

Sources present at the meeting, who requested anonymity, reportedly said the transformation aligns with Musk’s push for paid features, considering the subscription model followed by most dating apps today. The idea of users providing payment and banking information also supports Musk's long-standing ambition to offer full banking services to X users.

Musk also expressed his vision for x to function as a bank by next year, despite not discussing whether users desired such a feature. The CEO has already implemented a $1 yearly fee for users in New Zealand and the Philippines, marking a step towards his vision for payments and banking.

The meeting also touched on X’s ongoing licensing process to offer banking and money transfer services in the U.S. So far, the platform has acquired licenses in nine states.

Though Musk continues to hype X’s future, insiders report that employees remain skeptical about the company’s financial state and the platform’s ongoing user and advertiser exodus.

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