Elon Musk tweets ending his bid to buy TwitterToday, Tuesday, the CEO of Tesla and SpaceX said on his official Twitter account: The proposed $44 billion acquisition of Twitter cannot proceed until the CEO of Twitter provides evidence that the platform has less than 5% of fake accounts.
"Based my presentation on the accuracy of the Securities and Exchange Commission filings on Twitter," Musk wrote in his tweet. “Yesterday, the CEO of Twitter publicly refused to show proof of less than 5%. This deal cannot go forward until he does.”
He stated in his tweet that 20% of the accounts on Twitter are fake accounts or spam, and this percentage is 4 times what Twitter claims. It can be much higher, but he did not mention in detail how he reached the 20% number.
Twitter deal comment Last Friday, Musk announced that he was suspending his deal on Twitter while evaluating how the company calculates the percentage of fake accounts it owns. In a filing from the Securities and Exchange Commission, Twitter says that less than 5% of the accounts on its platform are fake.
Determine the percentage of fake accountsOn Tuesday, Parag Agrawal posted a post on Twitter explaining why Musk's previous suggestion to sample 100 random accounts to determine the proportion of fake accounts had not worked.