Elon Musk says his Twitter possession is ‘waiting’.
Elon Musk escalated tensions over $ 44 billion bid for Twitter buy on Friday Come on, say in the tweet before dawn that the deal is. “Pause” Until he could get more details about the amount of spam and fake accounts on the platform, and two hours later tweeting that he was “still committed” to the purchase.
The announcement highlights the latest chapter in an open company saga that raises questions about free speech online and the consequences of making the world’s richest person responsible for one of the most influential social media platforms.
Musk, Tesla’s chief executive, said getting rid of the platform of fake accounts, bots and spam would be one of his top priorities after the move. In his tweet, Musk cited the May 2 rule filing by Twitter that included an estimate that less than 5 percent of Twitter users are spam and fake accounts.
Known for its freewheeling and sometimes impulsive business model, Musk’s comments have left many skeptical about the future of the deal.
Twitter has a few restrictions on registering for accounts, and the company has been fighting spam and bots for a long time. But it is difficult to make exact figures on the size of the problem. In a May 2 regulatory document, Twitter said it estimated that less than 5 percent of users were fake or spammed, a figure it had previously disclosed. Twitter has warned that it used “critical judgment” in its calculations and that “its incorrect account estimates or spam may not represent actual figures,” a language similar to the wording used in the company’s previous documents.
Musk’s comments were seen as a strategy to drive up prices or as an excuse. On to provide overall shuffle.
“Many will see Musk using Twitter / spam accounts as a way out of this deal in a highly volatile market,” Wedbush analyst Daniel Ives said in a note to investors.
Twitter did not respond to a request for comment.
Musk’s amazing bid for Twitter has sparked a lot of debate about the role of social media platforms to police what its users say. Twitter has spent years fighting hate speech, harassment and other online harassment, but Musk, who has a history of using the platform to attack and insult critics, has vowed to ease the company’s content management policies. On Tuesday, he said he would lift sanctions on former President Donald J. Trump.
How Elon Musk’s Twitter deal Revealed
Blockbuster agreement. Elon Musk, the richest man in the world, has concealed what appears to be an impossible attempt by celebrity billionaire Mercural to buy Twitter for $ 44 billion. Here’s how the agreement was disclosed:
Retreating from an agreement can be confusing. The deal includes a $ 1 billion fee that Musk will have to pay if he cancels the deal, though it is unclear how the terms will apply if Musk is able to verify his Twitter account. If Musk’s debt settlement persists, Twitter could still take the economy to court to force Let him pay the contract.
Musk has pledged to use his private funds to fund the Twitter deal, a plan that has been hit by a recent slump in stock prices, including by Tesla. Tesla shares have fallen nearly 30 percent in the past month. Musk is both selling Tesla shares and putting them up as collateral for personal loans to raise cash.
If the deal is successful, a business challenge on Twitter could force Musk to pull his stake in the electric car maker to plug a potential financial hole. And any issue that Tesla has caused its stock to fall far enough could trigger an excuse in Musk’s personal loan that requires him to increase his stock, limiting his ability to invest on Twitter.
Tesla shares rose on Friday after Musk comments.
Mr. Musk’s bidding has created uncertainty within Twitter, a company that is already struggling to gain users and generate more revenue. On Thursday, Twitter executive Parag Agrawal fired two top executives, stopped hiring and promised to cut spending.