Elon Musk Says $44 Billion Twitter Deal Put On Hold Due To Pending Details On Spam, Fake Accounts

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Washington: Days after announcing that he is taking over the microblogging site, Elon Musk on Friday announced that his $44 billion Twitter deal is temporarily on hold due to pending details on spam and fake accounts.Also Read – ‘Justice for Doctors’ Trends on Twitter After Supreme Court Refuses to Postpone NEET-PG 2022

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Elon Musk said in a tweet. 

Earlier this week, Twitter in a filing had estimated that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter. Also Read – Twitter Fires 2 Top Managers, Announces Hiring Freeze Ahead Of Elon Musk Takeover

Also Read – Elon Musk’s Mother Questions Twitter On Its Much-Awaited Edit Button After Mistake In Tweet: Here’s How It Might Look Like

The microblogging platform had 229 million users who were served advertising in the first quarter.

The disclosure about the firm came days after Elon Musk, who has inked a deal to buy Twitter for $44 billion, tweeted that one of his priorities would be to remove “spam bots” from the platform.

However, Twitter said in the filing that it faced several risks until the deal with Elon Musk is closed, such as whether advertisers would continue to spend on Twitter and “potential uncertainty regarding our future plans and strategy.

As per the earlier reports, Elon Musk was expected to become Twitter’s temporary CEO after closing his $44 billion takeover of the social-media firm.

Considered as world’s richest man, Elon Musk is also the CEO at Tesla Inc and heads two other ventures, The Boring Company and SpaceX.

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