Elon Musk pulls out of $44bn deal to buy Twitter
By: Eric Zheng
Elon Musk, founder of SpaceX and CEO of car company Tesla, wants to back out of his agreement to buy Twitter for 44 billion dollars. This is because Twitter refuses to provide Elon Musk information about the number of spam accounts and bots on their site. Elon Musk also wants to know how many active users there are on Twitter each day. Twitter has so far refused to meet Elon Musk’s demands. Elon Musk has already signed the contract of buying Twitter, so now he is looking for a way to terminate the deal.
Elon Musk also found that Tesla’s income has fallen severely ever since people heard that Elon Musk bought Twitter. Twitter’s revenue has also fallen steeply, both of which result in Elon Musk paying way more than it's worth. Elon Musk may change his mind about terminating his contract with Twitter, but he says that will only be once Twitter redeems themselves and gives him the information he wants.