Elon Musk Suspends Twitter Purchase Plan, Here’s Why

KOMPAS.com – Acquisition Twitter oleh CEO SpaceX, Elon Musk decided to be temporarily postponed. Through his Twitter account with the handle @elonmusk, the world’s richest man said he was waiting for Twitter to provide data regarding the number of fake accounts.

However, Musk is committed to continuing to buy full Twitter shares in the future.

“Deal (with) Twitter is temporarily suspended, (because) the details of calculating spam/fake accounts are less representative of 5 percent of users,” Musk said on Twitter.

Twitter shares plunged more than 20 percent after Musk said he was delaying the acquisition of Twitter. But after he posted a second tweet related to his commitment, Twitter shares were crawling again.

Read also: Elon Musk Wants to Unblock Donald Trump’s Twitter Account

To reveal the data needed, Musk said his team would take a random sample of 100 Twitter followers. “If we work together to figure out the percentage of bots/duplicating the percentage of users, we might be able to get a good answer,” Musk said.

One netizen asked why Musk didn’t ask the number of spam users before the company’s acquisition. Musk then replied that he “relys on the accuracy of Twitter’s public submissions”.

Under the terms, Musk has the right to request data from Twitter about his operations after signing the deal. For Musk, this will help him establish ownership of Twitter.

However, this practice is not part of due diligence or reopening the negotiation process, as summarized by KompasTekno from Reuters, Saturday (14/5/2022).

Elon Musk officially bought Twitter at a price of 44 billion US dollars or around Rp. 634 trillion, Tuesday (26/4/2022). After Twitter was bought by Elon Musk, Twitter will become a private company, no longer a public company that is listed on the US stock exchange.

Read also: Bill Gates: Elon Musk will make Twitter worse

Shareholders will receive $54.20 in cash for each Twitter share they own.

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