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Elon Musk Seeking to End the $44 Billion Deal with Twitter
By: Jin Huang
The world’s richest person, Elon Musk, is seeking to end his 44 billion dollars deal to buy
Twitter because of multiple unresolved agreements with Twitter’s company.
Mr. Musk said he had to back out because Twitter failed to provide enough information on the
number of fake accounts or spam. However, Twitter says it’s planning to pursue legal actions to enforce the agreement.
In a letter filed with the US Securities and Exchange Commission, Mr. Musk’s lawyer letter
reads, “sometimes Twitter has ignored Mr. Musk's requests, sometimes it has rejected them for reasons that appear to be unjustified, and sometimes it has claimed to comply while giving Mr. Musk incomplete or unusable information.”
Social media platforms use spam accounts to spread information to large numbers of people and manipulate the trend. Twitter said it removed around a million spam accounts every day to keep the platform safe and secure.
Elon Musk believes that more than 20% of Twitter users could be spam or bot accounts, and he has been trying to get information about how many daily active users Twitter has for weeks.
However, Twitter had repeatedly refused to give out accurate information about the number of bot accounts, which is why Mr. Musk wished to terminate the deal.