Tesla CEO Elon Musk’s deal to purchase Twitter is said to now be “temporarily on hold.” Musk claims that the deal has been paused as he looks into confirming whether spam and fake accounts make up less than five percent of users on the platform.
As first reported by Engadget, Musk tweeted early on May 13 to confirm that the deal to purchase Twitter was on ice. Musk attached an article published by Reuters, reporting that Twitter estimates spam and fake accounts add up to less than five percent of its monetizable daily active users during Q1 2022.
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
Last month, Musk confirmed that he is taking the necessary steps to purchase Twitter for $44 billion. Once he has taken full control over the company, Musk has said that he wishes to open free speech on the platform.
The Tesla CEO has also been outspoken on his desire to authenticate all humans, make its algorithms open-source, and stop spam bots from using the platform. Additionally, Musk stated that he will reverse the ban on former U.S. President Donald Trump.
Currently, there’s no word on how Musk will verify the total percentage made up of spambots and fake accounts on Twitter. Naturally, when word began spreading that Musk’s deal was paused, some speculated whether Musk was getting cold feet. Some wondered if Musk ever really planned to purchase Twitter.
However, Musk wrote a follow-up tweet, clarifying that he is “still committed” to seeing the $44 billion acquisition through.