Elon Musk calls Twitter deal ‘on hold’

Elon Musk said on Friday that he would temporarily halt his much-anticipated $44 billion acquisition of Twitter, sending shares of the social media giant tumbling.

Twitter deal on hold pending details in favor of counting spam/fake accounts does represent less than 5% of users,” Tesla CEO said in a tweet.

Shares were down 20% in premarket trading.

In his tweet, the billionaire included a link to a May 2 Reuters article that cited a Twitter filing on Monday.

Twitter estimated in a Monday filing that fake or spam accounts accounted for less than 5 percent of its monetizable daily active users in the first quarter,” the Reuters article said.

Musk told a Financial Times conference on Tuesday that Twitter’s decision to ban former President Donald Trump was “morally bad.”

On Thursday, he stressed on Twitter that he does not support Trump as a presidential candidate.

“While I think 2024 would be better with a less divisive candidate, I still think Trump should revert to Twitter,” he wrote.

The former president has said he doesn’t want to return to Twitter, but instead wants to build his own social platform for the truth.

He was permanently banned from Twitter in January 2021 due to “the risk of further incitement to violence” following the attack on the U.S. Capitol, the company said at the time.

Trump is considering running for white again in 2024.

US News .

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