Tesla's Elon Musk officially owns Twitter

Elon Musk is in the news again, and this time it’s for the takeover of the popular social media network: Twitter.

The Tesla boss has announced that he is the new “Chief Twit” after he completed his acquisition of Twitter. Musk is one of the biggest users of Twitter and is one most followed personalities on the platform with over 110 million followers, and runs several companies like Tesla, SpaceX, and many more.

In a tweet directed at Twitter advertisers, Musk stated his motivation for acquiring the platform:

"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. 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.

In the relentless pursuit of clicks, much of traditional media has fueled and careered to those polarized extremes, as they believe that is what brings in the 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 help humanity, whom I love. And I do so with humility, recognizing that failure in pursuing this goal, despite our best efforts, is a very real possibility."

Reports indicate that some of Twitter's pre-Musk executives have been terminated as the new boss comes in to make some changes.

Currently, Musk’s major businesses aren’t that involved in the Philippine market yet, apart from talks about establishing Starlink satellite-based broadband internet in the country with Henry Sy, Jr.

Tesla Motors has no official distributor or presence in the country, but perhaps with the advent of the new law, the groundwork could be laid down for one.