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Everything we know about Elon Musk officially buying Twitter

He’s starting to call himself “Chief Twit”
by Christine Estima
October 27, 2022 2:08 p.m. EST
October 27, 2022 2:08 p.m. EST

It happened. Tesla CEO and the man who loves naming his kids with unpronounceable names has finally gone and dunnit: Elon Musk has bought Twitter. And it was no steal – the former Queen’s University student spent a reported $40 million on the deal.

The Space X CEO posted a lengthy statement today to the social media platform directed at Twitter’s advertisers, where he laid out an informal mission statement for his tenure, writing that Twitter cannot be a “free-for-all hellscape.”

 

 

In a message on Twitter he captioned with the words “Dear Twitter Advertisers,” Musk wrote, “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!” 

“The reason I acquired Twitter is because it is important to the future of civilization to have a common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence,” he wrote. “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 our society.”

The Boring CEO added that he did not buy Twitter “to make more money. I did it to try to help humanity, whom I love.” Considering that he’s the father of 10 and has admitted he’s trying to repopulate the earth himself, we don’t doubt it.  

Musk said Twitter should be a platform that both follows the laws of the land and is “warm and welcoming to all, where you can choose your desired experience according to your preferences.”

Musk also posted a video of himself lugging moving boxes into Twitter HQ, and then changed his bio to “Chief Twit.” Make of that what you will.

 

 

However, not everyone is buying his “love for humanity” statements. Today, The Wall Street Journal reported that many advertisers are concerned about Musk’s speculated plans to scale back content moderation that would allow fringe or dangerous users to flood the site. The outlet also reported the concern for potential conflicts of interest with auto advertising vis-a-vis his company Tesla.

The outlet reported some advertisers even feared he would remove advertising from the platform altogether.

In addition, for a while, Musk has threatened to reinstate former POTUS Trump’s suspended Twitter account, a move which could face serious consequences. The WSJ reports that several advertisers will suspend all ad spending on the platform altogether should that come to pass. Trump was banned from the platform after the January 6 insurrection on the US Capitol Hill for inciting violence. 

 

 

But Musk seemed to express confidence in advertising, saying that “advertising, when done right, can delight, entertain and inform you.”

“Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise,” Musk added.

Musk has been vocal in the past about what he views as infringements on free speech on the platform. In July he originally went public with his attempt to buy the platform, but pulled out at the last minute when he wondered if Twitter’s evaluation was much lower than his buying price. Twitter then launched a lawsuit to force Musk to go through with the purchase, and welp, here we are.

 

 

There have also been unconfirmed reports that Musk will fire 75 per cent of Twitter’s staff once his takeover is finalized.

As for users of the platform, many are not necessarily welcoming the news, with many pointing out that his vast wealth could be better spent on helping humanity by wiping out debt or ending world hunger than buying a social media platform.

 

 

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