In an open letter to advertisers Thursday, billionaire Musk said he wouldn't let the social network become a "free-for-all hellscape" where anything can be said with no consequences.
Musk said that he will not allow the social media company to become a "hellscape".
According to Musk, his reason for purchasing the company is not to make money, but to create a common digital town square for open dialogue.
Musk said that the social media platform can't become a place where anything can be said with no consequences.
According to reports, Musk visited the company's headquarters on Wednesday and told the banks that he planned to close the deal by Friday. In April, the company accepted Musk's offer to take the company private for $44 billion, but he threatened to walk away weeks later, accusing the company of under counting accounts. When he takes over, Musk has said he will be more tolerant of the kind of content that can be found on the site.
$12.50 billion is the total amount of money. That is the amount of loans Musk has secured to finance the acquisition. He is likely to use his net worth and other investors to raise the rest of the money.
It is estimated that Musk is the world's richest man, with a net worth of $221.2 billion.
According to a report, Musk told bankers he would buy the social network by Friday.
Musk offered to buy the company at its original price.
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