You can be on Entrepreneur’s cover!

Elon Musk Wants X to Be a Financial Hub and Dating App Musk wants his "everything app" to handle your finances — and your love life.

By Madeline Garfinkle

Key Takeaways

  • Elon Musk wants X to be a comprehensive platform for users' financial (and dating) needs.
  • "I'm talking about, like, you won't need a bank account," Musk reportedly said.
entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

Elon Musk said he envisions X as the central hub for all financial needs, aiming to revolutionize how money is managed in daily life, The Verge reported.

He plans to launch new features to make X an all-in-one financial center for users by the close of 2024, Musk reportedly told X employees during a call last Thursday. While Musk didn't disclose specific features, he has said in the past that he envisions X eventually offering debit cards, checks, and loans, ultimately becoming a "high-yield money market account."

In the meeting, Musk emphasized that the concept of "payments" transcends mere transactions, but rather encompasses an individual's entire financial ecosystem.

"When I say payments, I actually mean someone's entire financial life," Musk said on an all-hands call on Thursday, according to audio obtained by The Verge. "If it involves money. It'll be on our platform. Money or securities or whatever. So, it's not just like send $20 to my friend. I'm talking about, like, you won't need a bank account."

Related: Social Media App X Is Struggling to Attract Users — But Another Once-Beloved Platform Is Making an Unexpected Comeback

CEO Linda Yaccarino also expressed confidence in X's evolution on the call, considering it a substantial opportunity expected to be fully realized by 2024, per The Verge.

X is currently in the process of acquiring the necessary licenses in individual U.S. states to provide banking or money transfer services, per Business Insider. Presently, the platform holds licenses in nine states (Arizona, Maryland, Georgia, Michigan, Missouri, New Hampshire, Rhode Island, Iowa, and Mississippi), per Coindesk.

Is X Turning Into a Dating App?

Musk also expressed enthusiasm that X will evolve into a "fully fledged" dating site by 2024, Business Insider reported. However, a source present for the call told the outlet that Musk did not delve into the specifics of how X would transition into a dating app, whether there was user demand for such features, or what other product changes might be enacted to facilitate this transformation.

Still, Musk's ambitions for X in the coming year align with his previous statements about establishing X as an "everything app," akin to the multifaceted apps prevalent in regions like China, such as WeChat, which provide extensive services from shopping to transportation.

"He wants people to pay for everything," one of the X sources on the call told Insider.

Related: Twitter Just Got a Major New Feature — and Is One Step Closer to Becoming Elon Musk's 'Super App'

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business News

Nike Responds to Criticism Over U.S. Women's Olympic Uniforms: 'Everything's Showing'

The company is the official outfitter for the U.S. Olympic track and field athletes.

Growing a Business

Top Brands Are Flocking to Newsletter Advertising — Here Are 11 Reasons Why You Should Do the Same.

An explanation of the current market trend of brands turning to newsletter advertising as a primary channel in their marketing campaigns.

Business News

The 'Silver Tsunami' Meets 'Golden Handcuffs' as Past Low Mortgage Rates Lock in Homeowners — Whether They Like It or Not

The resulting lower supply of homes, and population growth outpacing construction, has led to a 7.2 million home shortage.

Business News

These Are the Busiest Airports in the World, According to a New Ranking

A surge in international and business travel has brought airports back to near pre-pandemic levels of passenger traffic.

Growing a Business

5 Entrepreneurial Mindsets That Drive Success

Here are the mindsets shared by the most successful entrepreneurs.