Tesla CEO demands proof that less than 5% of Twitter accounts are fake before proceeding with his $44bn acquisition.
Elon Musk has expressed concerns that his $44bn takeover of Twitter cannot proceed unless the social media platform provides evidence that fewer than 5% of its users are fake or spam accounts. In a tweet, the Tesla CEO stated that the deal “cannot move forward” until Twitter demonstrates that only a small percentage of accounts are inauthentic.
Musk’s remarks came after Twitter CEO refused to provide proof that fake accounts make up less than 5% of the platform’s total user base. Musk had based his initial offer on Twitter’s SEC filings, but the uncertainty over the platform’s user metrics has caused the billionaire to demand more transparency before continuing with the acquisition.
