Elon Musk has completed the $44 billion purchase of Twitter and has already removed the company’s CEO, CFO, and head of legal policy, trust, and safety.
It’s the end of a legal saga in which Twitter sued the world’s richest man for breaching the terms of an acquisition agreement.
Musk tweeted that his motivation for joining the platform was not financial.
Initially, Musk moved to buy Twitter in an acquisition deal in April. However, he backed out on the deal in May citing concerns about the number of bots on the platform and later allegations raised by a company whistleblower.
In July, he said that he had changed his mind about buying the business. Twitter, on the other hand, claimed the billionaire needed to complete the purchase according to their deal.
Twitter ultimately launched a lawsuit to enforce the terms of the agreement. Musk resumed his acquisition intentions in early October, but only on the condition that legal processes be put on hold.
On October 27, Musk posted a video on his Twitter showing up in Twitter headquarters with a sink. Musk posted the video saying “Entering Twitter HQ- let that sink in!”
He also put “Chief Twit” in his Twitter bio. Elon Musk also posted a tweet with the title “Dear Twitter Advertisers”. In it, he stated the reason why he bought the social media platform.
“I wanted to reach out personally to share my motivation in acquiring Twitter,” he said.
“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.”
“That is why I bought Twitter. I did it to try to help humanity, whom I love.”