Elon Musk pauses Twitter buyout for fake users and spam

Elon Musk's offer of more than 40,000 million to buy Twitter has been frozen.

Elon Musk pauses Twitter buyout for fake users and spam

Elon Musk's offer of more than 40,000 million to buy Twitter has been frozen. This was announced this Friday through a tweet by the owner of Tesla and Space X while waiting to receive more information about the number of false accounts that exist on the platform. Buying and selling users is more than just present in this network to give the impression of being more influential than it is.

The shares of the company collapsed 20% as soon as this situation was known, prior to the opening of the market. Before this novelty in the pause of the offer, the titles of Twitter had already fallen 9,000 million dollars due to the many doubts that surround the privatization process.

Two hours later, the businessman wrote a tweet assuring that he remains "committed to the acquisition" of the social network. After the new message, the shares of the platform in electronic operations prior to the opening of Wall Street recovered part of the lost ground, falling over 10%.

When he announced the purchase of this social network in April, Musk already indicated that one of his priorities would be to eliminate artificial bots. "The Twitter deal is temporarily on hold pending details pending calculation that fake accounts truly represent less than 5% of users," tweeted Musk, who with more than 80 million followers, is the great leader. of this platform.

In his message, he included information from Reuters explaining that, according to the company, fake accounts do not exceed 5% of monetizable active users. Musk, the richest man in the world on paper, wants to know what he really buys and what the status of the company he has bet on before going ahead with the deal.

The San Francisco-based social network assured in its internal information that it had 229 million users at the end of the first quarter of this year.

This news comes after it emerged this Thursday that two of its top managers have already left the company due to the effect of the acquisition of Musk, in addition to freezing the entire process of new hires. The CEO of Tesla has been very critical of some managers for considering that they limited the ability to express themselves on the network. In fact, he has already said that, if the acquisition goes through, he will lift the veto against former President Donald Trump, who was left out for disclosing information about coup plotters and instigators of violence.

Everything points to a soap opera, largely because Musk is more than known for his visceral character and his impulsive style of doing business. Precisely at the stroke of a tweet, which has brought him quite a few problems. His comment leaves in the air the agreement that would put in his hands one of the most influential social networks in the world, a territory of which politicians and journalists are its great occupants and a scenario that shapes public opinion.

The agreement approved by the Twitter executive includes a clause of 1,000 million dollars in case the purchase does not take place in the end. It is not clear how this clause applies if Musk determines that the reality about the users is not what he was told.

His bet means that a good part of his fortune is at stake to finance the purchase of Twitter, a platform that since going public has never lived up to expectations and its ability to earn profits has not been realized.