Musk could be withdrawing his $44 billion Twitter takeover offer. Although Musk had offered to take over Twitter in April, the transaction seems to have been hampered by the influx of fake accounts.
The Washington Post reported that Elon Musk’s $44 billion deal for Twitter acquisition is “in danger.” Based on three unnamed sources, the paper claims that Tesla’s CEO camp has concluded what many data specialists had predicted: Twitter numbers on Spam accounts aren’t verifiable.
This is not the first time that we have reported Musk withdrawing its takeover bid. The Last Time A Billionaire Threatened to Twitter By accusing Twitter of withholding information regarding the number of spam and bot accounts on its platform. Twitter quickly accepted to be more transparent regarding the transaction to save the transaction.
Twitter removes 1,000,000 spam accounts per day
Twitter claimed that it removes more than a million spam accounts every day. This is twice the amount that Parag Agrawal, CEO of Twitter, stated in a May thread. However, the company insists that bots account for less than 5%. Twitter explained that it obtained its 5% figure by quoting “multiple human reviews” from thousands of accounts. This was consistent over time.
Private account information is also used in the exams, including IP addresses and locations. This does not seem enough to convince Elon Musk. He is still convinced of fake accounts on social networks, so their high numbers could significantly reduce the company’s worth. Musk could be subject to $1 billion in severance payments if the deal fails.