Elon Musk has agreed to buy Twitter ‘on hold’

Billionaire Elon Musk Twitter Inc. Announces it has a $ 44 billion deal to buy, spam and fake accounts represent less than 5 percent of consumers, and we do so by backing up calculated data.

“The Twitter deal represents less than 5% of users on pending details that support spam / fake accounts,” Musk tweeted Friday.

Two hours after his first tweet, Musk said on stage that he was “still committed to the purchase”.

Shares of the social media company fell 17.7% in premarket trading to $ 37.10, “the worst standout since Musk disclosed its stake in the company in early April and later privatized it at $ 54.20 per share.” Lowest level from the “best and last” offer.

On Tuesday, when Twitter shares fell below $ 46.75, the probability of concluding a deal with an agreed price fell below 50% for the first time.

Earlier this month, Twitter estimated that fake or spam accounts accounted for less than 5% of the daily active users who could make money in the first quarter, when it provided ads to 229 million users in the first quarter.

Controversial person

Musk is the richest man in the world, estimated at $ 240 billion by Forbes and the head of Tesla and SpaceX.

His feud with Twitter – and the lawsuit that followed – was at least 2018, when he tweeted that he had enough money to take Tesla private – and the judge concluded that it was “false and misleading”.

His involvement on Twitter since his purchase announcement has attracted a lot of attention, especially regarding the future status of former US President Donald Trump.

Trump was removed from Twitter and other social networks after the January 6, 2021 attack on US Capital.

Musk said Wednesday he was ready to lift the ban on the Trump account.

The social media company said it would face a number of risks until the end of the Musk deal, including whether advertisers should continue to spend money on Twitter amid “potential uncertainty about future plans and strategies”.

If Musk pulls out of the deal, he will have to pay a $ 1 billion closing fee.


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