Elon Musk Retracts Deal to Buy Twitter

By: Lindsay Li

On July 8th, Elon Musk stated that he would be ending his deal to buy Twitter. This came as a shock to many, as Musk previously bid 44 billion dollars to purchase the social media company.

According to a BBC article, “Mr Musk said he had backed out because Twitter failed to provide enough information on the number of spam and fake accounts,” while “Twitter says it plans to pursue legal action to enforce the agreement.”

Mr. Musk has repeatedly attempted to get data on the number of spam and bot accounts on Twitter, the article says. The reason that he decided to retract his $44 billion deal was because Twitter “had failed or refused to provide this information.”

Some of the other issues that he had with Twitter were the bans of certain accounts, such as former president Donald Trump’s account. Furthermore, he wanted more transparency for tweets.

Elon Musk first offered to purchase Twitter on April 14th, 2022.

Source: https://www.bbc.com/news/business-62102821