New 'Chief Twit' Elon Musk appears to confirm he has bought Twitter

The Tesla chief executive's message to advertisers seemed to confirm the huge deal. Photos / AP, Getty Images

After months of wrangling, billionaire Elon Musk seems to have confirmed he has bought Twitter.

"There has been much speculation about why I bought Twitter and what I think about advertising. Most of it is wrong," the Tesla co-founder wrote overnight.

Musk has said he did not want Twitter to become a "free-for-all hellscape".

The Financial Times described Musk's remarks as a sudden bid to appease advertisers after the tycoon previously suggested he wanted Twitter to rely less on money from marketers.

Entering Twitter HQ – let that sink in! pic.twitter.com/D68z4K2wq7

— Elon Musk (@elonmusk) October 26, 2022

Musk suggested the platform was crucial to civilisation and should be an inclusive place where people could watch everything from porn videos to family-friendly memes.

The post came shortly before Musk's US$44 billion ($75b) deal to buy Twitter was set to close, in keeping with a deadline a Delaware court imposed.

University of Richmond law school professor Carl Tobias told News Corp that Twitter was already having trouble making money before Musk "battered it and litigated it to death".

Musk on his Twitter page described himself now as "Chief Twit".

Dear Twitter Advertisers pic.twitter.com/GMwHmInPAS

— Elon Musk (@elonmusk) October 27, 2022

Last week, The Washington Post reported Musk intended to lay off most of Twitter's workforce if and when he became the social media company's owner.