Elon Musk’s $44bn deal to buy Twitter is on hold due to the number of fake/spam accounts on the social media platform.
“Twitter deal temporarily on hold pending details supporting calculation that spam/accounts do indeed represent less than 5% of users,” Musk tweeted, linking to a Reuters article last week citing a Twitter filing. Roughly two hours later, he added, “Still committed to acquisition.”
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
Twitter’s spam problem is years in the making. The company has previously acknowledged that reducing fake and malicious accounts would play a key factor in its ability to keep growing
Despite his declaration of commitment, some suspect the Tesla CEO may be trying to force a renegotiation of his original offer or looking to back out the deal entirely.
Although both parties signed an agreement that includes a $1bn break fee payable by Musk if he was to walk away.