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Elon Musk Puts $44bn Twitter Deal On Hold

Elon Musk has said his $44bn deal to buy Twitter is temporarily on hold after he queried the number of fake or spam accounts on the social media platform.


    

    

    

He said he was 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.



Mr Musk has been vocal on cleaning up spam accounts.

Twitter reported nearly two weeks ago that fake accounts accounted for less than 5% of its daily active users during the first three months of this year.

Mr Musk is now examining that figure.

Under the terms of the deal, if either Twitter or Mr Musk walk away they must pay the other side a termination fee of $1bn.

MaRk AnNor

MaRk AnNor is a content producer and an entrepreneur. He loves to write about trending issues in the world of entertainment. MaRk loves to read, listen to music, and spend quality time with those he loves.You can send an email, markannor14@gmail.com. Please if you want you or your business to be featured on this website, kindly email us today. Thank you!

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