Elon Musk issues first statement after purchasing Twitter

"I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans," he added.

"Twitter has tremendous potential - I look forward to working with the company and the community of users to unlock it."

https://twitter.com/elonmusk/status/1518677066325053441 It remains unclear who exactly will lead the new company, with Musk stating that he 'doesn't have confidence in management' in his offer document. Twitter is is currently led by Parag Agrawal. Reports suggested that the world's richest man essentially had a free run at the business, with insiders claiming they were unable to secure a 'go-shop' provision, which would have allowed them to entertain other bidders or joint-investors in the window between the sale being agreed and finalised. The 50-year-old bought a nine per cent stake, the equivalent of 73,486,938 Twitter shares, on March 14 and was set to join the board of directors until a class-action lawsuit from those who sold him their piece of the company, claiming he failed to follow proper declaration procedure with the SEC and resultantly prevented them from gaining additional funds from the sale. The deal, which is expected to close later this year, has seen Musk secure $25.5bn of financing for the transaction and will take a $21bn stake in the business. Related links: