Elon Musk halted a $43 billion takeover of Twitter until the platform confirmed the number of spam accounts.

  • Massive trading halted
  • Elon wants to see the exact percentage of spam accounts on Twitter.
  • Reuters estimates this figure at around 5%.

Tesla CEO Elon Musk has temporarily suspended the $43 billion Twitter acquisition. Musk said Friday that the number of bot accounts on social media platforms needs confirmation.

Elon tweeted:

Musk also referred to the following report: Reuters According to News Outlet, fake accounts make up less than 5% of Twitter’s total user base.

By 2020, Musk had tweeted concerns about spambot activity on social networks. On several occasions, Elon has classified this situation as a critical issue to be addressed.

Following the massive $43 billion Twitter takeover offer, Musk also tweeted about his plans for the matter.

Elon Musk’s takeover of Twitter

EWN previously reported the path of Elon’s attempt to take over Twitter. It started in March after a billionaire invested about $2.98 billion to buy a 9.2% stake in the company. Soon after, Musk was supposed to join the board, but his position was turned down.

A few days later, Elon announced it was buying Twitter and offered it $54.20 per share. Additionally, updated 13D files filed with the SEC showed that Andreessen Horowitz, Binance, Sequoia and other large investors have pledged significant stakes in the historic buy.

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