(Photo : Photo by CARINA JOHANSEN/NTB/AFP via Getty Images)
The tech mogul explained that he acquired Twitter not to further increase his wealth but to preserve humanity, following his reported plan to fire 75% of the company's employees.
Multibillionaire tech mogul Elon Musk attempted to allay advertiser fears as he assumed control of the social media behemoth Twitter, saying he purchased the platform to help preserve human civilization.
As reported by RT, Musk wrote a statement to advertisers on the eve of concluding his $44 billion buyout of Twitter, detailing his motivations for the acquisition.
Musk noted that his purchase of Twitter was meant to not increase his wealth.
"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 explained, as cited by RT.
Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS
— Elon Musk (@elonmusk) October 27, 2022
Musk, the CEO of Tesla, who Forbes estimates to be worth over $220 billion, made an offer to acquire Twitter in April.
Musk Frees The Bird
During that period, he promised to remove any restriction of conservative views on the platform, calling free expression a societal necessity for a "functioning democracy."
On Thursday, he tweeted, "The bird is freed," an apparent reference to Twitter's bird logo and his wish to see the business loosen restrictions on what users can publish.
Elon Musk has branded himself a "free speech absolutist," but his email to advertisers suggests Twitter won't be fully unrestricted.
He warned that Twitter must not degenerate into a "free-for-all hellscape" where users feel they may say whatever they want without repercussions.
According to Reuters, Elon Musk billionaire also wanted that Twitter's algorithms that decide which information is shown to users to be made publicly available, as well as "defeat" spam bots on the platform.
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Twitter staff and critics worried Musk would enable "harmful" content. More than two dozen left-wing activist organizations encouraged businesses to stop advertising on Twitter in May, warning that Elon Musk Twitter deal would turn the social networking site a "direct threat to public safety."
Elon Musk warned that the social media sector is in danger of being split into far-right and far-left "echo chambers that generate more hate" and splitting the nation.
He continued by saying that traditional media outlets' constant pursuit of better ratings and money has fuelled and appealed to the divided extremes.
According to Bloomberg, who cited a person familiar with the topic, Elon Musk Twitter deal intends to scrap permanent restrictions on users.
Top Twitter Executives Fired
In light of his statement about Twitter's future under his leadership, Elon Musk dismissed top executives.
According to sources, Musk fired Twitter's CEO Parag Agrawal, CFO Ned Segal, and legal affairs and policy chief Vijaya Gadde.
Elon Musk billionaire said they misled him and Twitter's investors about the scope of the platform's fake accounts issue.
Days ago, a report published by The Washington Post claimed that Elon Musk plans to reduce staff, leaving Twitter's 7,500 employees worried about their future.
Following a report by Reuters, a source close to the situation has confirmed that Musk intends to take over as Twitter's interim CEO.
It is yet unclear whether the firing of senior management would lead to company-wide employment layoffs.
Ross Gerber, a shareholder in both Twitter and Mr. Musk's other business Tesla, said earlier allegations that 75% of personnel at the social media company were due to lose their jobs were "inaccurate," as per a BBC report.
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