Everything indicates that Elon Musk will not buy Twitter. Although not so long ago it seemed that the deal was already certain, the billionaire has just terminated the entire contract. Founder of, among others Tesla and SpaceX feel cheated on what is happening on the popular social media platform.
Why won’t Elon Musk buy Twitter?
There has been talk of the purchase of Twitter by Elon Musk for several months. These were not just unfounded rumors, because in April there was indeed an official confirmation of the transaction worth 44 billion dollars . It seemed Elon Musk would definitely buy Twitter . The billionaire argued that the popular social networking platform had enormous unlockable potential and that he wanted to defeat spam bots.
Some of Elon Musk’s plans for Twitter have aroused considerable controversy . Celebrities even threatened to leave the platform . Human rights organizations were also concerned about the billionaire vision. You can read about the details in the linked texts. It soon turned out that the transaction itself, supposedly already settled, was questionable. There have been reports of the suspension of operations . The same spam bots that the billionaire wanted to fight suddenly began to disturb him . Musk expected evidence that Twitter bots accounted for less than 5% of all accounts. Commentators wondered what the businessman was up to – after all, he is extremely active on Twitter and had to know what problems the website was facing.
Yesterday, Elon Musk wrote to Twitter that he was ending an agreement with management to buy the platform. He provided false and misleading information about the company as a reason . The billionaire’s lawyers argue that Twitter has breached its contractual obligations because it did not provide the required information about the number of inauthentic accounts and spam . People associated with Elon Musk say the Twitter administration is lying about the problems on the platform.
Elon Musk’s decision exposes him to legal proceedings . Both parties to the would-be deal have agreed to pay out up to a billion dollars in certain circumstances. The question remains what the Twitter management will do now.
source: PAP
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