Musk tells advertisers Twitter will not become 'free-for-all hellscape'
The Tesla chief executive is on track to close his $54.20 per share buyout of Twitter by Friday
Elon Musk assured Twitter's advertisers on Thursday that he will not allow the social media platform to turn into a "free-for-all hellscape" following the closing of his pending $44 billion acquisition.
"Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences!," Musk said in a lengthy statement titled "Dear Twitter Advertisers." "In addition to adhering to our laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences."
He said that his Twitter acquisition will ensure civilization has a "common digital town square, where a wide range of beliefs can be debated in a healthy manner, without resorting to violence."
"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 our society," Musk explained. "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 money, but in doing so, the opportunity for dialogue is lost."
"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," he continued. "And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility."
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The billionaire added that Twitter "aspires to be the most respected advertising platform in the world that strengthens your brand and grows your enterprise," and that ads on the platform should be "as relevant as possible" to its users' needs.
"To everyone who has partnered with us, I thank you," Musk's message concluded. "Let us build something extraordinary together."
SpaceX owner and Tesla CEO Elon Musk speaks in Los Angeles on June 13, 2019. | Reuters Photos
The statement comes as advertisers have expressed concerns about how Twitter ads could potentially be affected by Musk's ownership, according to The Wall Street Journal. Twitter reported total revenue of $1.18 billion in the second quarter of 2022, with advertising revenue accounting for $1.08 billion.
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The Delaware Court of Chancery has given Musk until Friday to close his $54.20 per share buyout of Twitter. If the parties cannot reach an agreement, a legal trial related to Musk's previous efforts to walk away from the deal will be scheduled for November.
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The New York Stock Exchange confirmed in a notice on its website that it is planning to suspend trading of Twitter stock on Friday. As of the time of publication, Twitter shares are up approximately 26% year to date.