Elon Musk says Twitter purchase will accelerate creation of his X 'everything app'

• Elon Musk says buying Twitter will accelerate the creation of X, an "everything app."

• Musk has offered the buy Twitter for the original price of $44 billion he offered in April.

• The Tesla CEO has previously teased X.com as a possible Twitter competitor.

Elon Musk's $44 billion deal to buy Twitter is back on the table and the billionaire is claiming the purchase will accelerate the development of his long-discussed "everything app."

After months of litigation, the Tesla CEO is looking to avoid a court battle by offering to buy the social media platform for the price he originally agreed in April, valuing Twitter at $54.20 per share.

Musk followed up news of his renewed offer to buy the company with a tweet claiming the move would accelerate the creation of "X, the everything app."