What just happened? It appears that Elon Musk’s $44 billion acquisition of Twitter could be in jeopardy. The world’s richest person just announced that the deal is “temporarily on hold” until he has confirmation that spam and fake accounts on the site really do represent less than 5% of its userbase.
Musk tweeted the announcement earlier today along with a link to a Reuters report from May 2. The article revealed the statistic was in a company filing made to financial regulators. Twitter claimed that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter.
Still committed to acquisition
— Elon Musk (@elonmusk) May 13, 2022
Musk never said precisely how he plans to validate Twitter’s findings or why he doubts them. It could be related to recent revelations that Twitter overinflated monetizable daily active user (mDAU) counts between 2019 and 2021, something it claims was done in “error.”
Musk followed the announcement with a tweet confirming he was still committed to the acquisition, but that hasn’t stopped Twitter shares from falling about 15% on the back of the news while Tesla shares were up 6%.
If Musk did walk away from the deal, he would still have to pay a $1 billion break fee. Bill Gates would probably be happy; the ex-Microsoft boss believes Musk’s free-speech beliefs could make Twitter worse.
Musk revealed some of his plans for Twitter last month. They include less moderation—he said he would reverse Donald Trump’s ban from the site—and open-sourcing its algorithm. But one of his top priorities is eliminating the spam, spambots, and the bot armies that plague the platform.
Earlier this week, Musk was threatened by Dmitry Rogozin , the head of space agency Roscosmos, for supplying Starlink satellites to Ukraine. “If I die under mysterious circumstances, it’s been nice knowin ya,” the Tesla CEO joked.
- Elon Musk says humans are underrated and that he regrets using so many robots to build the Model 3 (TSLA)
- Elon Musk Says Tesla Model S Crash Media Coverage Is ‘Messed Up’
- What Elon Musk Actually Said In The Tesla Earnings Report Conference Call
- Elon Musk Says SpaceX Will Reuse a Rocket Within 24 Hours in 2019
- Elon Musk Says 'Humans Are Underrated'
- Elon Musk Says Tesla Aims to Cut Crashes by 90 Percent
- Elon Musk says his comedy project with former Onion staffers is called Thud!
- Tesla open to second collaboration with Toyota, Elon Musk says
- The analyst who Elon Musk cut off during a bizarre earnings call isn't giving up — and he has a case (TSLA)
- Elon Musk reveals new details about how Tesla is restructuring (TSLA)
- Elon Musk warns that creation of 'god-like' AI could doom mankind to an eternity of robot dictatorship
- Elon Musk's brash promise: Tesla will soon make money
- Tesla CEO Elon Musk takes direct control of troubled Model 3 production: report
- Tesla shares tank as Elon Musk jokes ahead of production-numbers release
- Elon Musk: Tesla didn’t reject Autopilot safeguards because of cost
- Elon Musk confirms Tesla is now building 5,000 Model 3 electric cars every week, six months after the company's original deadline
- Elon Musk's List Of Celebrity Relationships: Tesla CEO Now Dating Singer Grimes
- 'I continue to hold Tesla accountable': Analyst interrupted by Elon Musk fires back (TSLA)
- Elon Musk's Boring Company Is Now All About Public Transit, and It's Confusing
- Elon Musk said he'll try to break the Hyperloop speed record 'soon'
Elon Musk says Twitter deal on hold as spam account report is investigated have 552 words, post on www.techspot.com at May 13, 2022. This is cached page on TechNews. If you want remove this page, please contact us.