Elon Musk is now trying to back out of his multi-billion dollar deal with Twitter. According to multiple reports, Musk no longer wants to buy the social media platform, saying Twitter provided false information.
Elon Musk Is Now Trying to Back Out of His Multi-Billion Twitter Deal Saying the Platform Lied
In a statement provided by Musk’s team, they wrote, “For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform.’ Twitter has failed or refused to provide this information.”
This isn’t the first time Musk expressed his disapproval of the presence of spam on Twitter. As the Guardian reported, Twitter chief executive, Parag Agrawal, tried to address Musk’s concerns publicly on Twitter back in May. Agrawal attempted to explain the problem “with the benefit of data, facts, and context,” but Musk was unimpressed and responded to the Twitter thread with a poo emoji.
New reports surfaced early Monday morning alleging that Twitter and Elon Musk may have agreed on a deal. According to Twitter itself, Musk is expressing interest in buying the social media platform.
As Mamas Uncut previously reported, on April 25, Musk had been expressing his desire to buy Twitter, offering billions for the platform. And just weeks later, a deal was in the works.
After Musk’s initial offer, it seemed like Twitter may have been unwilling to sell the company to the polarizing businessman. The board went as far as to adopt a so-called poison pill that would make it very hard for Musk to make the purchase without Twitter’s approval.
That same month, Twitter’s board met to evaluate Musk’s offer. According to CNN, the Tesla CEO has already lined up $46.5 billion in financing.
Musk, even at the time, made it very clear that he had a lot of changes to the social media platform. On Twitter itself, Musk explained his intentions should he acquire the platform.
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“I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy,” Musk said in his offer letter to Twitter.
“However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.”
Now, because of Musk’s hesitation, this could mean the deal will move to the courtroom. There Musk will have to prove that Twitter breached its agreement.
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