Elon Musk unveils new “X” logo for Twitter

Mr Musk's decision would be the latest in a slew of contentious changes to the social media network under his leadership since acquiring it for $44 billion last October. 

Mr Musk stated in a series of tweets that the blue bird emblem would be replaced with the X logo on Monday. 

"And soon, we shall bid adieu to the Twitter brand and, gradually, all the birds," Musk tweeted.

Mr Musk had already changed the company's formal name to X Holdings Corp, after his business X.com, in April to represent his aim of building 'X,' the everything app that performs social networking and payment functions akin to China's WeChat. 

Linda Yaccarino, Twitter’s chief executive, confirmed the launch of the X brand on Sunday. 

Ms Yaccarino tweeted, “It is an exceptionally rare thing – in life or business – that you get a second chance to make another big impression. Twitter made one massive impression and changed the way we communicate. Now, X will go further, transforming the global town square.”

She explained that the new logo would be “centred in audio, video, messaging, payments/banking” and would be a “global marketplace for ideas, goods, services, and opportunities.”

Despite laying off half of the company’s staff after the acquisition, Mr Musl recently revealed that the site remained cashflow-negative with a heavy debt burden after losing half of its advertising revenue.