Editor’s note: “Elon Musk’s Next Billion-Dollar Venture Is in Motion Right Now” was previously published in April 2024. It has since been updated to include the most relevant information available.
Elon Musk is one of the richest men in the world. And of course, that didn’t happen by accident.
He amassed his $185 billion fortune by starting, running, and growing successful businesses. Musk helped transform both PayPal (PYPL) and Tesla (TSLA) into the multi-billion-dollar firms they are today. He founded SpaceX and turned it into a multi-billion-dollar space exploration empire.
And now he is working on his next potential multi-billion-dollar project…
One that could be even bigger than PayPal, SpaceX, and Tesla combined… A next-gen “super app.”
Envisioning a Super App
Back in late 2022, Musk bought the popular social media app Twitter for $44 billion. Since then, he has rebranded it as “X” and executed a plethora of modifications.
He’s changed the business’ organizational structure, created a new business model, launched new features and introduced new tools.
Of course, the big questions here are: Why did Musk buy Twitter in the first place? And why is he changing it so radically?
In an internal X meeting just a few months ago, Musk said: “We’re rapidly transforming the company from what it was, Twitter 1.0, to the everything app.”
He wants to turn X into a “single application that encompasses everything.”
Elon Musk Aims to Dethrone Incumbent Champions
Now, details on this plan are scant. But we do know that Musk wants to integrate payments into X so users can directly link their bank accounts to send money and buy things from each other.
Of course, that sounds a lot like eBay (EBAY) or Amazon… except it would be built right on top of one of the world’s most popular social media platforms – one that a lot of us already spend a lot of time on every day.
Such a platform could dethrone eBay or Amazon and become the world’s top online shopping destination.
And the potential feels near-limitless. X could get into short videos, shows, maybe even movies, making it a threat to Netflix. Musk could incorporate AI to create content, recommend products, etc.
In fact, Musk has started his own AI startup, xAI, which many think has the potential to rival ChatGPT. And since X has access to a ton of social data, any integrated AI would likely be very good.
So, yes, while Musk’s vision of turning X into a super app is ambitious, it’s also doable.
The Final Word on the Elon Musk Super App
After all, this is Elon Musk we’re talking about…
The same man who helped to grow the world’s largest digital payments platform at a time when everyone thought internet money was a mere fantasy…
He created the world’s largest space enterprise while everyone was satisfied with NASA.
And he guided Tesla to become a leading EV maker when there hadn’t really been a successful new auto business in 100 years.
That’s exactly why we think X could be the next super app.
But, alas, how can you invest in X’s transcendence?
You can’t… directly, at least… because Elon Musk took X private when he acquired the company.
But you can invest in a tiny project… trading for less than $1… that could be a big part of X’s transition to super app.
In fact, this sub-$1 project could be the very currency that powers Musk’s new venture.
Now, there are no guarantees – though our research suggests it is a real possibility.
And, of course, if that happens… this sub-$1 project will absolutely soar.
Invest in this explosive penny trade before it takes off.
On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
P.S. You can stay up to speed with Luke’s latest market analysis by reading our Daily Notes! Check out the latest issue on your Innovation Investor or Early Stage Investor subscriber site.
