Update: The Daily Mail reported on Oct. 27 that Musk had finalized the deal and that he now legally owns Twitter.
(CNS News) – Elon Musk, the CEO of Tesla and SpaceX is expected to finalize his $44 billion purchase of Twitter on Friday, Oct. 28, even though a Delaware Chancery Court extended the deadline to Oct. 28. Musk stated his purchase of the company was not to be a money-maker, but to “try to help humanity, whom I love.”
On Oct. 27, Musk tweeted a “Dear Twitter Advertisers” note expressing his personal reasons behind moving forward in the Twitter deal, to refute some public speculations that he are wrong.
He states his purchase Twitter is important to the “future of civilization,” as the public should have access to engage in a “common digital town square” where differences in beliefs and opinions can be shared and debated in a civil way.
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS— Elon Musk (@elonmusk) October 27, 2022
“There is currently great danger that social media will splinter into far right wing and far left wing echo chambers that generate more hate and divide out society,” Musk wrote.
“In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes, as they believe that is what brings in the money, but, in doing so, the opportunity for dialogue is lost,” he said.
“That is why I bought Twitter,” he continued. “I didn’t do it because it would be easy. I didn’t do it to make more money. I did it to try to help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility.”
With freedom of speech, also comes limitations. Musk warned that Twitter cannot be a “free-for-all hellscape” and must follow the laws of the land. The platform, he said, must also be inclusive and customizable for users to choose their desired experience according to their preferences.
A beautiful thing about Twitter is how it empowers citizen journalism – people are able to disseminate news without an establishment bias— Elon Musk (@elonmusk) October 26, 2022
When done right, advertising has the capability to entertain and inform Twitter users but must be as relevant as possible to their individual needs, according to Musk.
“Low relevancy ads are spam, but highly relevant ads are actually content!” he concluded.
“Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” Musk tweeted. “To everyone who has partnered with us, I thank you. Let us build something extraordinary together.”
Musk’s new Twitter description reads “Chief Twit,” and a tweet from yesterday showed him entering the company’s headquarters with a porcelain sink. “Entering Twitter HQ – let that sink in!” Musk said along with the posted video.
Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7— Elon Musk (@elonmusk) October 26, 2022
The deal must be closed by 5 p.m. Eastern Standard Time tomorrow, or Musk will face the proposition of going on trial for the second time, CNBC reported yesterday. Twitter originally sued the billionaire after he tried to get out of the $44 billion merger agreement due to his claims that Twitter had not been honest about spam and bots on its platform, which supposedly would create a material adverse effect. The deadline was finalized after Musk reinstated that he would buy Twitter, but new trial dates will be set for November if he forgoes the deal.