Elon Musk said on Friday that he is putting a temporary hold on his much-anticipated deal to buy Twitter for $44 billion, plunging shares in the social media giant.
“The Twitter deal temporarily pending details supports the calculation that spam/fake accounts actually represent less than 5% of users,” Tesla CEO said. said in a tweet,
Shares fell 20 per cent in premarket trading.
In his tweet, the billionaire included a link to a May 2 Reuters article citing a Twitter filing on Monday.
“Twitter Inc. estimated in a filing on Monday that false or spam accounts represented less than 5% of its monetizable daily active users during the first quarter,” the Reuters article said.
Musk told a Financial Times conference on Tuesday that Twitter’s decision to ban former President Donald Trump was “morally bad.”
On Thursday, he insisted on Twitter that he does not endorse Trump as a presidential candidate.
“Even though I think a less divisive candidate would be better off in 2024, I still think Trump should be reinstated on Twitter,” he wrote.
The former president has said that he does not want to return to Twitter, but instead wants to create his own truth social platform.
The company then said that he was permanently banned from Twitter in January 2021 due to “the risk of further inciting violence” following the US Capitol storm.
Trump is considering another run for White in 2024.