Elon Musk puts Twitter deal on hold over fake account details
Elon Musk has said his billion-dollar deal with Twitter is currently on hold after he queried the number of fake or spam accounts on the platform.
Musk is prepared to buy Twitter for $44bn. He is waiting for information “supporting [the] calculation that spam/fake accounts do indeed represent less than 5% of users”.
Following the announcement, Twitter shares fell 25% in pre-market trading.
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn
— Elon Musk (@elonmusk) May 13, 2022
Since the shocking announcement of Musk’s plans to buy Twitter, he has made it clear he plans to clear up spam accounts and wants there to be fewer restrictions on ‘free speech’ on the platform – he’s said he’ll welcome back former US President Donald Trump.
Musk is currently the world’s richest person according to Forbes magazine, and under the terms of the deal, if either Twitter or Musk walk away they will have to pay the other side a termination fee of $1bn.
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