UPDATE: Elon Musk officially took over Twitter, CNBC learned on Oct 27.
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There's a reason Elon Musk wanted to buy Twitter—but it takes a lot more than 240 characters to explain.
The Tesla CEO explained his motives for purchasing the social media platform—an acquisition he agreed to in a $44 billion deal back in April.
"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," Elon wrote in an Oct. 27 tweet. "I did it to try to help humanity, whom I love."
Giving insight on his planned approach, the 51-year-old noted that the platform cannot become a "free-for-all hellscape, where anything can be said without consequences."
After all, in his opinion, a political divide may occur, which he believes will impact advertisers.
"In the relentless pursuit of clicks, much of traditional media has fueled and catered to those polarized extremes as they believe that is what brings in money," he tweeted. "In doing so, the opportunity for dialogue is lost."
Oct. 28 marks Elon's deadline to officially close the deal after attempting to back out of it in July, which caused Twitter to file a lawsuit against him. If he doesn't go through with the purchase, court dates for his trial against Twitter will be scheduled.
While the SpaceX founder's letter outlined his vision, he also spoke out about reports that advertisers are concerned with his plans to manage content on Twitter.
"There has been much speculation about why I bought Twitter and what I think about advertising. Most of it has been wrong," Elon wrote. "I also very much believe that advertising, when done right can delight, entertain and inform you."
He added, "For this to be true, it is essential to show Twitter users advertising that is as relevant as possible to their needs. Low relevancy ads are spam, but highly relevant ads are actually content!"