Elon Musk Says Twitter Buy Is “Temporarily On Hold”

May 13, 2022 Business, Social Media

Elon Musk announced Friday that his Twitter deal is on hold until he receives more information about how many fake accounts there are on the social media platform.

Twitter’s stock plummeted 18% following the announcement. A spokesperson for Twitter did not immediately respond to a CNBC request for comment.

Tesla CEO Musk announced last month that he intends to buy Twitter for $44 billion and he’s previously tweeted that one of his main priorities would be to remove “spam bots” from the platform.

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Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn

— Elon Musk (@elonmusk) May 13, 2022