Elon Musk Temporarily Suspends Twitter Acquisition

Abdul Ghani

Before a takeover, Elon Musk wants to know whether there is only a small percentage of so-called spam accounts on Twitter. Elon Musk has temporarily suspended the purchase of Twitter. This emerges from a recent Twitter post by Musk. He first wants to wait for calculations that less than five percent of all Twitter accounts are used for sending spam messages. Musk says he remains interested in acquiring Twitter.

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What will happen to Elon Musk's takeover of Twitter?Image by Steve Jurvetson From Flickr

Reuters reported that the social media network published an estimate earlier this week that in the first quarter of 2022, there were less than five percent of Twitter profiles with no actual users behind them. Overall, Twitter reported 229 million accounts in the first quarter of 2022. Musk had previously stated that he wanted to block Twitter accounts if they were used to send spam messages.

After Musk's tweet was released, the Twitter stock fell nearly a quarter in premarket trading to trade at around $34.50. That's a far cry from the $54.20 a share Musk has promised shareholders. On May 12, 2022, the Twitter stock closed at $45.08. Tesla stock rose 5 percent in response to Musk's tweet.

Musk Wants To Take Over Twitter and Bring Trump Back

The boss of the electric car manufacturer Tesla has agreed to a takeover with the Twitter board of directors and wants to pay around 44 billion US dollars. But he is still dependent on enough shareholders wishing to sell him their shares. Twitter and Musk wanted to complete the acquisition by the end of the year. It is uncertain whether the schedule will be met.

Musk recently stated he would let former US President Donald Trump back on Twitter. The decision at the time to block Trump was "morally wrong and just plain stupid" for him. Trump was banned from Twitter after expressing sympathy for his supporters who stormed the Capitol in Washington on January 6, 2021.

In the previous weeks, Trump had fueled sentiment with baseless claims that an election win against Joe Biden was stolen through fraud. Trump recently said he didn't want to go back to Twitter, even though he could. He once had more than 80 million followers on the social network.

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Member Of Freelancers Union (USA), Freelance Writer!, and Digital Creator. Ghani Mengal is an enthusiast Freelance blogger and digital marketer. His content has been published and featured on many popular blogs, websites, and publications. Including TeelFeed, LifeHack.org, Data-Driven Investor, TextSniper, Scientific Publication The Predict, The Startup, The Ascent, Heart Affairs, Illumination, And The List goes on.

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