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Elon Musk ‘Still Committed’ To Twitter Deal After Saying it was ‘On Hold’

UPDATE: Elon Musk confirms he’s “still committed” to acquiring Twitter:

 

Elon Musk’s $44 billion Twitter purchase is temporarily on hold.

Musk decided to push pause on the investment until he gathers more information about fake accounts, or “spam bots,” that reportedly make up around 5% of Twitter users. The billionaire entrepreneur does not want to invest his money into “bots” or spam accounts that can’t be monetized.

He’s of the opinion that the sale price should represent an accurate number of Twitter users that does not include fake accounts – which he’s previously stated he intends to remove from the social media platform.

Before moving forward with his purchase, Musk is asking for confirmation on what was released in a filing earlier this month, that its fake accounts represent only around 5% or less of the platform’s users.

“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” tweeted Musk in the early hours of Friday morning.

Last month Twitter accepted Musk’s deal at a per-share price of $54.20.

After Musk’s intentions were announced via early-morning tweet, Twitter’s stock price dropped 18%. Friday’s share price is currently sitting at $45.08.

Musk is the world’s richest man. He reportedly has a net worth of more than $240 billion.

 

Follow along on Twitter: @OhioAF

Written by Anthony Farris

Anthony is a former high school basketball intramural champion who played a leading role in creating two offspring. He spends his weekends hoping for an MTV Rock N' Jock revival.

Follow him on twitter @OhioAF

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