Elon Musk confirms he has bought Twitter for $44 billion

Elon Musk revealed on Thursday that his $44 billion buyout of the business had advanced and issued a warning to advertisers that Twitter cannot turn into a “hellscape” while under his control. Despite his desire for the social media behemoth to become a “digital town square,” Tesla CEO said in a tweet to advertisers on Thursday morning that it “clearly cannot become a free-for-all hellscape, where anything can be said with no repercussions.”

The message was sent on the same day the billionaire altered his Twitter handle to read “Chief Twit” and shared a video of himself bringing a porcelain sink into the company’s San Francisco offices. Thursday he sent an email to the advertisers saying, “Our platform must be friendly and inviting to everybody,” adding, “where you may pick your desired experience according to your tastes,” referencing the fact that users can choose from “all ages” to “adult” content whether viewing movies or playing video games, respectively.According to him, effective advertising “may show you a service, product, or medical treatment that you never knew existed, but is suitable for you,” and that it “can delight, amuse, and enlighten you.”

The 51-year-old billionaire said in his letter’s conclusion: “Low relevancy advertisements are spam, but highly relevant ads are genuinely content! “In order for this to be true, it is imperative to provide Twitter users with advertising that is as pertinent to their requirements as possible.

Musk subsequently concurred with Zuby, a rapper on the site, who said Twitter should “find a method to recompense,” “monetise,” or “partner” with its top producers, like every other social media tool. The creator of SpaceX replied, “Absolutely.In the open letter to advertisers, Musk also disclosed his “motive” for purchasing the business, writing: “There has been considerable conjecture about why I purchased Twitter and what I believe about advertising. Most of it is inaccurate. He said he bought the business because “having a shared digital town square, where a broad variety of opinions may be argued in a healthy way, without resorting to violence, is crucial to the survival of civilisation.”

However, the 51-year-old billionaire said that “a lot of conventional media has fuelled and catered” to either the far right or the far left “since they feel that is what brings in the money, but in doing so, the chance for conversation is gone.” That is the reason I purchased Twitter, Musk wrote. “I chose not to do it because it would be simple.” I didn’t do it to increase my earnings. I did it in an effort to support mankind, which I adore.

And I do it in humility, realizing that, despite our greatest efforts, there is a very real chance that we may fall short of achieving this objective. At the moment, the company’s shares are worth $53.97, up more than 1% from the previous day.But once Musk’s $44 billion acquisition is finalized, shares of Twitter Inc. are anticipated to be halted on Friday. One day after Elon Musk barged into the San Francisco offices of the social media behemoth, Twitter employees were still on edge on Thursday.

Later, he was seen conversing with several staff members, apparently rejecting rumours that he was about to fire three-quarters of the workforce. But it didn’t really comfort the more than 7,500 people working at the massive social media company. The unpredictability of the Tesla CEO is a concern for those who stay at the firm, as one Twitter employee said in an anonymous piece for Business Insider.