MUSK SAYS TWITTER’S PURCHASE WILL NOT GO AHEAD UNTIL SPAM ACCOUNTS ARE CLARIFIED

Tue 17 May 2022:

Elon Musk has claimed that he will hold off on purchasing Twitter for $44 billion until he has more information on how many accounts are fake.

Bots and spam accounts accounted for fewer than 5% of Twitter’s monetizable daily active users in the first quarter, according to a filing earlier this month.

Musk, on the other hand, estimates that about 20% of Twitter accounts are fake or spam, and he is concerned that the number could be much higher.

Musk tweeted early Tuesday morning that “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 may be looking for a better Twitter deal as $44 billion seems too high with 20% of users being fake or spam accounts.https://t.co/rZ9Jsn60Mh pic.twitter.com/dQDVva3klZ

— TESLARATI (@Teslarati) May 17, 2022

Following this information, Twitter’s stock sank 2.22 percent in pre-market trading on Tuesday.

Musk has stated that his team is doing their own investigation into the number of fraudulent accounts on the site, but specialists in the fields of social media, disinformation, and statistical analysis say his proposed method for additional investigation is grossly inadequate.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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