Doubts Grow Over Elon Musk’s Deal to Buy Twitter, Billionaires Team Question Platform’s Claim on Bots
- The world's richest man may not go ahead with the Twitter deal as his team has since stopped engaging with the company
- The reason, sources confirm, is that the team is doubtful of the accuracy of the company's claim on the number of bots on its platform
- Another reason being adduced is that the fall in Twitter share price which gives the impression the billionaire may be overpaying
Elon Musk’s plan to buy Twitter is about to hit the rocks, The Washington Post report said, citing three people familiar with the matter.
According to the sources, Musk’s camp concluded that Twitter’s report on Spam accounts cannot be verified, saying that the team has since stopped engaging with Twitter in some discussions about funding the $44 billion acquisition. This includes a party that is named as the deal backer, one of the sources said.
Source: Getty Images
Questions persist on number of fake accounts
Discussions with investors have slowed in recent weeks as the Tesla CEO’s camp has raised questions about the recent data sold to corporate customers that they received from Twitter.
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The team’s doubts about the fake figures show they don’t believe that they have sufficient information to assess the microblogging site’s chances as a business, the sources confirmed.
Following the inability of the team to authenticate Twitter’s claim on spam accounts, it is expected to take serious action, meaning a change of direction, the source said.
Musk funding-fatigued?
The fake accounts are not the sole reason Musk might try to pull out of the deal. The share price of the company has fallen since the bid to take over the company in April, which gives the impression that he is overpaying. And the billionaire helms two other major firms, Tesla and SpaceX, including some start-ups.
Elon Musk Makes Aliko Dangote's total net worth in 8 hours, as Nigerian billionaire loses N105.33bn
Legit.ng has reported that the world's richest man, Elon Musk recorded a huge surge in wealth making as much as the total estimated wealth of Aliko Dangote.
On Tuesday, June 21 2022, data from the Forbes billionaire watch list shows that Elon Musk in the 8 trading hours in the United States made N6.10 trillion ($14.5 billion).
The amount is more than the total Dangote's total wealth of $13.9 billion who sits as the 65 richest men in the world.
Source: Legit.ng
