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Elon Musk announced he would form a Twitter "content moderation council" on Friday, following his takeover of the social media behemoth, in a staggering $44 billion deal.

The new owner of Twitter tweeted that the council would consist of people who hold "widely diverse viewpoints."

Musk said: "No major content decisions or account reinstatements will happen before that council convenes." He added: "To be super clear, we have not yet made any changes to Twitter's content moderation policies." 

 The billionaire's comments took place shortly after he took control of the company. The mega-billionaire also shared other ideas about how content on the site could be moderated. 

One user commenting on Twitter's plans for the council said Facebook had an oversight board, but it had failed to please either side of the political spectrum.

Musk responded and suggested users in the future could select "which version of Twitter you want" and likened it to a "movie maturity rating." He said the tweet rating could be "self-selected" and "modified by user feedback."

Despite saying that Twitter wouldn't reinstate any accounts before the council meets, Musk tweeted that people who were suspended for "minor and dubious" reasons would be released from "Twitter jail."

Another user asked why Kanye West's account was reinstated and Musk replied: "Ye's account was restored by Twitter before the acquisition. They did not consult with or inform me." 

The rapper, also known as Ye, made what was considered antisemitic remarks on Twitter earlier this month. He said he would be "going death con 3 on Jewish people" but that he couldn't be antisemitic "because black people are actually Jew also." He was locked out of his Twitter account shortly afterward. 

Commenting on Twitter's change of ownership, the creator of the cryptocurrency Dogecoin, Shibetoshi Nakamoto, tweeted on Friday: "I don't know who needs to hear this but, death threats aren't part of protected free speech; it's in a different category called 'a crime.' so y'know. you still don't get to do that."

Musk responded with a bullseye emoji, seemingly in support of Nakamoto's comments.