The deal between Twitter and Elon Musk is stuck. Musk has put this deal on hold for the time being.
Elon Musk Twitter Deal on Hold: The world's richest man has been in discussion for the last few weeks about Elon Musk's Twitter deal . Various types of news are continuously coming about this deal. The latest news is that the deal between Twitter and Elon Musk is stuck. Musk has put this deal on hold for the time being. Billionaire entrepreneur Elon Musk said Friday that his proposed plan to buy microblogging platform Twitter for $44 billion is being "temporarily postponed" until details about spam and fake accounts come out. Musk informed about the temporary halt of the deal in a message released from the platform of Twitter itself.
Twitter deal on hold
It is not clear, however, how much of a risk the details of spam and fake accounts could pose for the deal to continue. Musk, a strong advocate of transparency in Twitter, has been talking about ridding the social media platform of fake accounts since its inception. Elon Musk has put the Twitter deal on hold. However, the deal has not been stopped completely, rather they have put it on hold for the time being. Musk has cited spam as the reason for holding on to the Twitter deal. Earlier last month, Musk signed a deal to buy Twitter for $ 44 billion.
5% Spam or Fake Account
Tesla and SpaceX CEO Musk tweeted that the Twitter deal has been temporarily put on hold. Actually, Twitter had informed in a filing that only 5% of them have spam or fake accounts on their platform. On Thursday itself, two big Twitter officials have been removed. Musk, the largest shareholder of Twitter, had announced its acquisition for $ 44 billion. For this he also started raising funds.
Removing Fake and Bot Accounts
Elon Musk has been raising funds for this deal for the past few days. Last week, he has raised $ 7 billion for this deal, so that he can complete this deal of $ 44 billion. At the time of the deal, he had said that if this deal happens, then his priority would be to remove the bot accounts from the platform. Let us tell you that since the talk of the Twitter deal was in the early stages, since then Elon Musk has been talking about removing the fake and bot accounts on the platform.