Billionaire Elon Musk announced this Friday (7/8) that he had given up buying Twitter. He withdrew his $ 44 billion offer, saying the company did not provide enough information on the number of spam and fake accounts on the platform.
In a statement, the owner of the Tesla car and the SpaceX rocket company said Twitter was “materially violating several provisions” of the sales agreement and “appears to have made false and misleading statements.”
In the paper, Musk says a preliminary analysis by his consultants has determined that the number of spam and fake Twitter accounts is much higher than the 5% disclosed by the company.
Since reaching a financial deal to acquire Twitter in April, Musk has questioned the company’s fake accounts, considering giving up the deal to buy the social network. As part of the deal, he is required to pay a $ 1 billion fine for the withdrawal.
In addition to his personal loss, Musk’s fling has sent Twitter shares down 6%.
Source: Terra
Camila Luna is a writer at Gossipify, where she covers the latest movies and television series. With a passion for all things entertainment, Camila brings her unique perspective to her writing and offers readers an inside look at the industry. Camila is a graduate from the University of California, Los Angeles (UCLA) with a degree in English and is also a avid movie watcher.
