Musk tells advertisers Twitter will not become 'free-for-all hellscape'

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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 entitled "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," he 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 out best efforts, is a very real possibility." 

ELON MUSK VISITS TWITTER HEADQUARTERS AHEAD OF $44B ACQUISITION DEADLINE

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."

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FILE PHOTO: SpaceX owner and Tesla CEO Elon Musk speaks in Los Angeles, California, U.S., 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 Oct. 28 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.

TickerSecurityLastChangeChange %
TWTRTWITTER INC.53.95+0.53+0.99%

The New York Stock Exchange confirmed in a notice on its website that it is planning to delist Twitter stock on Friday following the deal's completion. As of the time of publication, Twitter shares are up approximately 26% year to date.

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