Elon Musk stated that he bought Twitter to “try and help humanity”.
A statement was tweeted by the billionaire explaining why he purchased the social media site. He stated that he believed it was important for the future civilisation to have “a common digital square”.
Yesterday, the tycoon arrived at San Francisco with a sink. He also changed his bio to “Chief Twit” on the site.
He stated that most speculation surrounding his motive for buying the US tech company was “wrong” as he feared social networking would fragment into “far right and far left-wing echo rooms”.
He stated that traditional media is driven by clicks and has facilitated polarisation. However, it also makes it difficult to have dialogue.
“That’s why I bought Twitter. I didn’t do it because I thought it would be easy. I didn’t do it to make more.
It was my attempt to help humanity, whom it is a great honor and privilege to do so. I do this with humility, realizing that we may fail in our efforts to achieve this goal.
To reassure advertisers, Tesla’s owner stated that Twitter cannot become a “free for all hellscape” where anyone can say anything without consequences. He also said that users would be able to tailor their experience on the site to suit their needs in the future.
Entrepreneurs in electric cars and space travel have promised to invest $46.5 billion (PS40.15bn), equity and debt financing, in order to take over Twitter. This will cover the closing costs and asking price of $44bn.
The deal also includes Morgan Stanley, Bank of America, and equity investors such as Larry Ellison of America and Prince Alwaleed bin Talal of Saudi Arabia.
Since April, when Musk offered to purchase the company after Musk expressed concerns about Twitter’s commitment toward free speech, the takeover has been going on.
He stated that he would continue with the offer he made six month ago, ahead of any legal action Twitter threatened to bring against him because he tried to back out.
He previously claimed that Twitter was not transparent about the problem he believed Twitter was having with fake accounts, which he called “spam bots”.