Elon Musk Announces He Is The New Owner Of Twitter

Elon Musk is now the official owner of Twitter.

The Tesla and SpaceX owner purchased the social media app for a whopping $44 billion. On Thursday, Musk explained why he chose the make the hefty purchase.

“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 in our society,” Musk said. “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.”

Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS

— Elon Musk (@elonmusk) October 27, 2022

He continued, “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.”

Musk’s newest purchase comes as a semi surprise as the Tesla boss almost pulled out of the deal. If you’re not aware, Musk believed Twitter executives wasn’t supplying him with enough information regarding bots and spam accounts. In addition, he also felt the company’s worth wasn’t as high as he was willing to pay.

Unfortunately, Twitter wasn’t backing down out of the deal without a fight. The social media company took Musk to court to make him honor the original terms. Nevertheless, Musk had a change of heart and went through with the deal.