Elon Musk is putting his deal to purchase Twitter on hold until he gets more information on how many fake accounts there are on the platform.
Musk saying he wants the company to confirm the percentage of of bots before he goes through with the purchase,
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users”
After the billionaire businessman made the announcement on Twitter, stocks plummeted 18%.
Musk’s Tweet was prompted by a Twitter Inc filing that said spam accounts account for less than 5% of it’s 229 million monetizable daily active users during the first quarter.
Musk and the board of Twitter came to an $44 billion agreement last month, with Musk paying $54.20 per share and taking the social media giant private.. The Tesla CEO said that he wanted to remove all “spam bots” from the platform.
