Elon Musk completes Twitter acquisition, set to become CEO

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Elon Musk has completed the $44 billion acquisition of Twitter. The Tesla CEO, who had previously stated that he was acquiring Twitter for the sake of humanity, announced the completion on his Twitter page, tweeting: “The bird is freed.”

According to reports, Musk intends to take over as CEO of Twitter, having already fired Parag Agrawal and other top executives.

Telsa CEO, Elon Musk's $44 bn deal gets unanimous endorsement from Twitter boardElon Musk yesterday hinted at the completion of the deal as he released a note on his Twitter page detailing why he is acquiring Twitter and what will be his agenda for the company after the acquisition.

  • In the Twitter post, Musk said: “The reason I acquired Twitter is that 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. 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.”
  • “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.
  • “I also very much believe that advertising, when done right, can delight, entertain and inform you; it can show you a service or product or medical treatment that you never knew existed, but is right for you. For this to be true, it is essential to show Twitter users advertising that is as relevant as possible to their needs. Low relevancy ads are spam, but highly relevant ads are actually content.
  • “Fundamentally, Twitter aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise. To everyone who has partnered with us, I thank you.
  • “Let us build something extraordinary together. That is 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, 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.”
  • According to Musk, “Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!”
  • “In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature,” he added.

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