Elon Musk said he is buying Twitter to “try to help humanity”.
The billionaire tweeted a statement explaining the reasons for buying the social media site, saying he believes it was “important for the future of civilization to have a common digital location.”
of Mr. Musk long-term purchase offer Twitter it is reportedly in its final stages.
Yesterday, the tycoon arrived at the company’s headquarters in San Francisco bringing a sink and changed his bio on the site to “Chief Twit”.
In the statement, he said most of the speculation about his motivation for the acquisition of the US tech company was “wrong” and that he feared social media would fragment into “far-right and far-left echo chambers.” .
He said: “In the relentless pursuit of clicks, much of the mainstream media has fueled and accommodated those polarized extremes, as they believe this is what brings money, but in doing so, you miss out on the opportunity for dialogue.
“That’s why I bought Twitter, 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, which I love. And I do so with humility, recognizing that failure to pursue this goal, despite our best efforts, is a very real possibility. “
In an effort to reassure advertisers, the Tesla owner went on to say that Twitter could not become a “free hell landscape for all, where anything can be said without consequences,” adding that he wanted to ensure that users could personalize their site experience. according to their preferences in the future.
The electric car and space travel entrepreneur has pledged $ 46.5 billion (£ 40.15 billion) in equity and debt financing to take over Twitter, covering $ 44 billion (£ 37.96 billion) of the asking price and closing costs.
Morgan Stanley and Bank of America, as well as equity investors including American businessman Larry Ellison and Prince Alwaleed bin Talal of Saudi Arabia, are contributing to the deal.
Elon Musk’s Twitter Deal: What’s Happening, How Did We Get Here, and What Happens Next?
The somewhat bumpy acquisition has been underway since April, when Musk first offered to buy the company after expressing concern about Twitter’s commitment to free speech.
On October 4, he said he would go ahead with the full offer he made six months ago prior to the lawsuit Twitter threatened to bring against him for attempting to withdraw from the deal.
He had previously argued that Twitter had not been clear about what he said was the company’s problem with fake accounts he dubbed “spam bots.”