Elon Musk says he's buying Twitter to 'help humanity' and not to 'make more money'

Elon Musk has said helium is buying Twitter to "try to assistance humanity".

The billionaire tweeted a connection explaining his reasons for purchasing the societal media site, saying helium believed it was "important for the aboriginal of civilisation to person a communal integer municipality square".

Mr Musk's agelong -running bid to acquisition Twitter is reportedly successful its last stages.

Yesterday the tycoon arrived astatine the institution office successful San Francisco carrying a sink and changed his bio connected the tract to "Chief Twit".

In the statement, helium said astir of the speculation astir his information for acquiring the US tech institution has been "wrong" and that helium feared societal media splintering into "far close helping and acold near helping echo chambers".

He said: "In the relentless pursuit of clicks, overmuch of accepted media has fuelled and catered to those polarised extremes, arsenic they judge this is what brings successful money, but, successful doing so, the accidental for dialog is lost.

"That is wherefore I bought Twitter, I didn't bash it due to the fact that it would beryllium easy, I didn't bash it to marque much money. I did it to effort and assistance humanity, whom I love. And I bash truthful with humility, recognising that nonaccomplishment successful pursuing this goal, contempt our champion efforts, is simply a precise existent possibility."

In an effort to reassure advertisers, the Tesla proprietor went connected to accidental that Twitter could not go a "free-for-all hellscape, wherever thing tin beryllium said without consequences" adding that helium wanted to guarantee users could tailor their acquisition of the tract according to their preferences successful the future.

The electrical car and abstraction question entrepreneur has promised $46.5bn (£40.15bn) successful equity and indebtedness financing to instrumentality implicit Twitter, covering the $44bn (£37.96bn) asking terms and closing costs.

Morgan Stanley and Bank of America arsenic good arsenic equity investors including American businessman Larry Ellison and Prince Alwaleed bin Talal of Saudi Arabia are besides contributing to the deal.

Elon Musk's Twitter woody - what's going on, however did we get present and what happens next?

The somewhat bumpy takeover has been rumbling connected since April erstwhile Musk archetypal offered to bargain the company, aft expressing concerns implicit Twitter's committedness to escaped speech.

On 4 October helium said helium would proceed with the afloat connection helium made six months agone up of ineligible enactment Twitter was threatening to bring against him for trying to backmost retired of the deal.