US billionaire entrepreneur Elon Musk said in a note to Twitter advertisers that he bought the social media network to “help humanity” and to provide a platform for healthy and free-of-violence debate.
“I wanted to reach out personally to share my motivation in acquiring Twitter. There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong,” he tweeted.
Musk said 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.” Social media, meanwhile, risks splintering into “far right wing and far left wing echo chambers that generate more hate and divide our society,” he said.
Much of traditional media has “fueled and catered” to those polarized extremes, believing “that is what brings in the money, but, in doing so, the opportunity for dialogue is lost,” according to Musk.
“That is why I bought Twitter … 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,” he said.
On Wednesday, Musk updated his Twitter biography to “Chief Twit” ahead of the forthcoming closing of the deal on the acquisition of the social media company.
On Monday, Bloomberg reported that Musk informed relevant debt bankers of his intention to close the acquisition deal of Twitter by Friday. The bankers are finalizing a $13 billion credit agreement to bring the acquisition deal closer to completion, the report said.
Musk’s purchase of Twitter was delayed by legal disputes between himself and the company about the number of fake accounts on its social media platform, which Musk alleged was much higher than the company reported.