Elon Musk Says Deal With Twitter 'Temporarily' on Hold
10:15 GMT 13.05.2022 (Updated: 12:56 GMT 14.04.2023)
© AP Photo / Gregory BullThe Twitter splash page is seen on a digital device, Monday, April 25, 2022, in San Diego.
© AP Photo / Gregory Bull
In April, SpaceX and Tesla founder Elon Musk inked an agreement to purchase Twitter for around $44 billion, shortly after becoming the platform's largest stakeholder.
On Friday, Elon Musk announced that the deal to buy Twitter has been "temporarily" put on hold pending the results of an investigation determining the number of fake accounts on the platform.
"Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users," Musk tweeted.
Earlier, the billionaire indicated that one of his priorities for the platform would be to remove "spam bots".
In late April, the company reported 12 million new users in the first quarter, marking one of its highest rises since the beginning of the coronavirus pandemic. The platform's stakes rose by 0.6% following the news.
Musk reached the agreement to buy Twitter in April, offering $44 million and pledging to make the platform free speech-friendly.
One of his most recent promises was to reinstate former US President Donald Trump's account. Trump was banned in January 2021 after being accused of inciting the Capitol riot.