Elon Musk said he stopped his Twitter purchases “pending details to support calculations that spam/fake accounts for less than 5% of users.”
Elon Musk’s $44 billion Twitter deal could take longer than initially thought.
The Tesla and SpaceX CEO retweeted a Reuters article on Friday, which reported that the platform’s social media filing on Monday revealed that “fake or spam accounts account for less than 5% of their active users who interact with them.” Able to generate First Quarter income. “
In a retweet, Musk, 50, said his purchases were now “temporarily on hold to confirm details to support calculations that spam/fake accounts account for less than 5% of users.”
“I’m still fully committed to the acquisition,” he wrote in his next post.
Twitter did not immediately respond to PEOPLE’s request for comment. In April, Twitter announced it had signed a definitive acquisition agreement for the 100%-owned entity Elon Musk for $54.20 per cash share in an estimated $44 billion transaction. Upon closing of the transaction, Twitter will become a private company.”
In his statement, Musk called Twitter “a digital town square where important issues affecting the future of humanity are discussed. Adding that he plans to upgrade the platform through acquisitions.
“I also wanted to make Twitter better than ever by improving the product with new features. Developing open-source algorithms to increase trust, beat spam bots, and authenticate everyone,” he said. “Twitter has great potential – I look forward to working with companies and the user community to unlock it.”
Unanimously approv by Twitter, the transaction is expect to be complete in 2022. Although the transaction terms are subject to change. Earlier this week, Musk said if his Twitter acquisition went to plan. He would lift a permanent ban on former President Donald Trump imposed after the US Capitol riots.
Speaking at FT Live’s Future of the Car conference on Tuesday, Musk said suspending Trump’s verified account was a “mistake” and would “cancel it” if he owned the social media platform.