Elon Musk puts Twitter deal ‘on hold,’ Trump responds to the news
Tesla CEO Elon Musk has reportedly placed his $44 billion deal to acquire Twitter on hold pending an investigation into bot accounts on the platform.
The stock has plummeted more than 15 percent in pre-market following Musk’s announcement released on his Twitter account. In a follow up post, Musk added that he is “still committed to the acquisition.”
Tesla and SpaceX CEO Elon Musk has tweeted that his deal to purchase Twitter is currently “on hold” while an investigation into the number of bots and spam accounts on Twitter is completed. Twitter claimed in a recent filing that less than five percent of its daily active users were fake or spam accounts, now Musk appears to want to confirm this claim, which is lower than most estimates.
“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk said in a tweet.
Twitter shares immediately began to crater in premarket trading, falling by over 15 percent from $45.08 per share at previous close to $38.76 as of 7:30 EDT.
Musk added that he is “still committed to the acquisition.”
Donald Trump responds to Elon Musk, Twitter news
Former President Donald Trump has responded to Tesla CEO Elon Musk’s announcement that his deal to purchase Twitter has been put “on hold.”
Trump responded on TRUTH Social by saying he was skeptical that Musk wanted to buy Twitter at that price.
“There is no way Elon Musk is going to buy Twitter at such a ridiculous price especially since realizing it is a company largely based on BOTS or Spam Accounts. Fake anyone? By the time you get rid of them, if that can even be done, what do you have? Not much? If it weren’t for the ridiculous Billion-Dollar breakup fee, Elon would have already been long gone. Just my opinion, but Truth Social is MUCH better than Twitter and absolutely exploding, incredible engagement!” Trump wrote.