Elon Musk temporarilyhold his deal to buy Twitter

Elon Musk temporarily hold his deal to buy Twitter

Elon Musk temporarily suspended his deal to buy Twitter after the social network reported that fake or spam accounts made up less than 5 percent of its 226 million daily active users. The CEO of Tesla, which offered to buy Twitter for $44 billion, tweeted a link to a May 2 Reuters  report  on Twitter, saying he wants to see the company’s calculations.

“The Twitter deal is temporarily on hold pending details supporting the estimate that spam/fake accounts represent less than 5% of users,” Musk tweeted on Friday.

Elon Musk later tweeted that he remains committed to the acquisition as well.

Twitter’s stock price had plunged as much as 20% following news of the suspension, while Tesla is up 6% at the time of writing.

In its  quarterly financial report , Twitter estimated that fake or spam accounts accounted for less than 5% of the platform’s active users for the first three months of the year. Twitter noted that the estimates were based on a review of sample accounts and believed the numbers were “reasonable.”

Musk has made reducing the number of “spam and scam bots” and “bot armies” on Twitter a key part of his pitch to improve service , as well as prioritizing free speech and open source algorithms. platform rating.

This would represent the last obstacle for Musk’s attempted acquisition of the social network. The company had initially announced a so-called “poison pill” measure to prevent the takeover before finally agreeing to the purchase in late April.

Rachel Maga
Rachel Maga is a technology journalist currently working at Globe Live Media agency. She has been in the Technology Journalism field for over 5 years now. Her life's biggest milestone is the inside tour of Tesla Industries, which was gifted to her by the legend Elon Musk himself.