The billionaire and powerful man of Tesla and SpaceX, Elon Musk, stated through his Twitter account that the acquisition of Twitter for 44 billion dollars can not proceed until there is a complete clearing of how many bots are fake.
Twitter estimated in regulatory documents it submitted earlier in May that less than 5% of its daily active users in the first quarter of 2022 were bot or spam accounts.
However, Musk estimates that about 20% of Twitter accounts are fake or spam, and he worries that the percentage may be even higher.
“My offer was based on documents submitted by Twitter to the US Securities and Exchange Commission (SEC) and the accuracy of the information contained therein,” Musk said. “Yesterday, Twitter’s CEO publicly declined to provide evidence of a ‘below 5% rate.’ The deal could not go ahead until it did.”
Its representative Twitter did not immediately respond to a question from CNBC.
20% fake / spam accounts, while 4 times what Twitter claims, could be * much * higher.
My offer was based on Twitter’s SEC filings being accurate.
Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does.
– Elon Musk (@elonmusk) May 17, 2022
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
