Business

Elon Musk set to complete Twitter deal, gives reason for purchase

The world’s richest man arrived at Twitter’s San Francisco offices on Wednesday ahead of a Friday deadline to complete the acquisition of the social media service.

Elon Musk claims that he is buying Twitter to “help humanity” as the billionaire set out his aims for taking over the social media platform.

In a tweet, Elon Musk said he didn’t buy the firm “to make more money. I did it to try to help humanity, whom I love”.

The entrepreneur has until Friday to complete a $44bn (£38bn) takeover of Twitter or risk going to trial.

The tweet addressed to Twitter’s advertisers states that he has “acquired” the firm.

However, there has been no official confirmation that the deal has been completed.

Earlier this week, Elon Musk published a video of himself walking into Twitter’s headquarters carrying a sink, raising speculation about his aims for the firm.

“Entering Twitter HQ – let that sink in!” Elon Musk wrote.

In business parlance, “kitchen sinking” means taking radical action at a company, though it is not clear if this was Elon Musk’s message – he also updated his Twitter bio to read “chief twit”.

In his latest tweet, Elon Musk set out some of his goals for the company, saying that Twitter must be “warm and welcoming for all”.

He wrote that he wanted “civilization to have a common digital town square” but he denies the platform will take an anything-goes approach.

“Twitter cannot become a free-for-all hellscape where anything can be said with no consequences!” He also said the platform must adhere to the laws of the land.

Elon Musk has said the social media site needs significant changes.

It was not clear whether Elon Musk met Twitter executives Wednesday when he made his trip with the sink but he listed his location as the Twitter headquarters in San Francisco on the social media platform.

However, everything we have seen today here in San Francisco would suggest that he will own Twitter in the coming days.
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