Now Reading
Elon Musk puts Twitter deal on hold over fake account details
Subscribe
Sign In

Elon Musk puts Twitter deal on hold over fake account details

Elon Musk puts $44B Twitter deal on hold. Musk awaits data on fake accounts.

Where: United States

The Facts

On Friday, Elon Musk put his $44 billion deal for Twitter “temporarily on hold” while he awaits data on the proportion of its fake accounts.
In a tweet, the Tesla billionaire referred to a Reuters story from May 2nd, citing a financial filing from Twitter that estimated false or spam accounts made up fewer than 5% of the company’s “monetizable daily active users” in the first quarter.
Musk tweeted, “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.”
Musk later added in a separate tweet that he is “still committed to acquisition.”
Twitter’s shares plunged more than 17% in pre-market trading in response to the news, and Tesla’s shares rose about 5%.

Primary Sources

Direct, authoritative source material on this story.

Reference Articles

Articles Citable has ingested related to this story.

Reference Articles

Articles Citable has ingested related to this story.

Media Coverage

Why did we include this story

Most covered story by the media today

of articles referenced this story

Coverage by Media Outlet

Media outlets covering this story along with their positive or negative sentiment toward this story.

© 2021 Citable. All Rights Reserved.