Why Did Elon Musk Buy Twitter? New Letter Reveals Reason

Tesla CEO Elon Musk explained why he bought Twitter in a tweeted note in which he spoke about promoting a "digital town square" where various beliefs can be expressed within limitations.

"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 in a tweet on Thursday, addressing advertisers.

Musk visited Twitter's headquarters in San Francisco on Wednesday and asserted his presence as he walked into the offices carrying a sink and later updating his Twitter bio to describe himself as "Chief Twit."

His $44 billion planned deal to take over the company is expected to close on Friday. The billionaire previously tried to pull out from the deal, which prompted the company to sue him in response.

Elon Musk reveals why he bought Twitter
In this photo illustration, the Elon Musk’s Twitter account is displayed on the screen of an iPhone in front of the homepage of the Twitter website on April 26 in Paris, France. Tesla CEO Elon Musk explained why he bought Twitter in a tweeted note in which he spoke about promoting a "digital town square" where various beliefs can be expressed within limitations. Photo illustration by Chesnot/Getty Images

In his Thursday note, Musk explained that he bought Twitter to promote the opportunity for dialogue, which he said was "lost" because of the way media "fueled and catered" to "polarized extremes" with the intent that it would generate revenue through the "relentless" pursuit of clicks.

"There is currently a great danger that social media will splinter into far right wing and far left wing echo chambers that generate more heat and divide our society," he said, adding that Twitter will be warm and welcoming under his ownership.

He also explained that he didn't purchase Twitter "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," he said.

He further stressed that it is important to provide relevant advertising to Twitter users that would cater to their needs.

"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 do something extraordinary together," he concluded.

Musk initially agreed in April to buy Twitter with the promises to install laxer content restrictions and crack down on spam accounts, but he had a change of mind in July and tried to back out from the deal, claiming that he was misled about the number of fake accounts on the platform.

On Tuesday, banks began processing the transfer of $13 billion that Musk will use to finalize the deal on Friday, according to an article published by The Wall Street Journal, citing anonymous sources, but was later referenced by Reuters. Musk is also expected to address the staff on Friday, according to Bloomberg.

Newsweek contacted Tesla to reach out to Musk for comment.