To make this a reality, says Musk, it is essential to show Twitter users ads that are as relevant as possible to their needs. "Low relevancy ads are spam, but highly relevant ads are actually content!" he asserted.

As part of the deal, Twitter's shareholders will be paid the previously agreed $54.20 apiece. Since Musk reannounced his plans to acquire Twitter earlier this month, the stock is on an upward rally, with shares rising 24.16% in one month. The stock has risen to $53.70 from the lows of $32.65 on July 11.

The company will be delisted from the New York Stock Exchange and will operate as a private firm. The takeover of Twitter by the world's richest person concluded after a months-long legal battle, which saw many flip-flops by Musk, forcing Twitter to move court against him. He slammed Twitter for having weak leadership and targeted it on many occasions for its inability to reveal the actual number of bot or spam accounts operating on the platform.

In a final showdown before he sealed the $44 billion deal after so many hiccups, Musk had entered Twitter's headquarters in San Francisco, carrying a porcelain sink on Wednesday. True to his humorous and witty character, Musk posted a video on Twitter, in which he was seen chuckling and carrying a sink as he entered the Twitter office. The post captioned "Entering Twitter HQ – let that sink in!".

Explaining the reason behind buying Twitter, Musk in his latest post said he didn't buy Twitter to make more money. "I did it to try to help humanity, whom I love. And I do so with humility, recognising failure in pursuing this goal, despite our best efforts, is a very real possibility".

New Twitter Owner

After Twitter takeover, Musk's message to advertisers: 'Let's build something extraordinary'