Elon Musk claims he has acquired Twitter amid Trump concerns

Elon Musk has claimed he has “acquired Twitter” in a post to the social network reassuring advertisers it will stay a safe place for their brands, amid fears one of his first actions as chief executive will be to restore Donald Trump’s account.

 

 

After months of uncertainty over whether or not his $44bn acquisition of the social media platform would go through, the Tesla chief executive’s post is the strongest acknowledgement yet that the deal is expected to be sealed before its deadline of 5pm in Delaware on Friday.

Despite Musk’s use of the past tense in the tweet, he did not legally own Twitter at the time it was sent, and the company continues to trade on the New York stock exchange. The final paperwork is expected to be completed on Friday afternoon.

In a sign of market confidence that the purchase would go ahead, the platform’s shares rose by 1% on Thursday to $53.90, close to the $54.20 a unit agreed price.

However, Musk’s note also underscores the long-term fallout of his aggressive negotiations, which have seen him denigrate Twitter’s published user figures, and promise an almost moderation-free experience after the purchase.

Despite Musk being the world’s richest man, Twitter’s revenue will still have to stay high even as a private company: the loans he has taken out to purchase it will lead to an interest bill of about $1bn a year, which he will need to pay out of the platform’s profits.

“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, without resorting to violence,” Musk tweeted.

“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.

“That said, Twitter obviously cannot become a free-for-all hellscape, where anything can be said with no consequences! In addition to adhering to the laws of the land, our platform must be warm and welcoming to all, where you can choose your desired experience according to your preferences, just as you can choose, for example, to see movies or play video games ranging from all ages to mature.