When Elon Musk he let the whole world know he had bought Twitter for over forty billion dollars, it seemed that time had stopped. For days - if not weeks - there was nothing but talk of the agreement that would have led Papa Tesla to the acquisition and privatization of the well-known Social Network, forgetting everything else. Then something went wrong and now the whole situation seems to be falling apart, so much so that Elon Musk would have Twitter threatened di terminate the agreement. But what is going on?
Fake Twitter accounts make Elon Musk regret wanting to acquire the platform
In April, Twitter accepted an offer from forty-four billion dollars which would have led to the acquisition and total control of the company by Elon Musk, thereafter suspend the agreement a few weeks later by the will of Mr. Tesla himself. And the hitch would have to do with the amount of muzzle e fake accounts that populate the platform.
According to what emerged from a recent survey conducted by to Reuters, fake accounts represent less than 5% of total users of Twitter, but Elon Musk seems to disagree and - on the contrary - estimates that the percentage of spam profiles and muzzle is much higher. So why would that infuriate him to the point of requiring a temporary suspension of the deal? Simple: the higher the percentage of fake accounts on Twitter, the more the company's acquisition value decreases and at that point the forty-four billion dollars required for the privatization of the Social Network in question would be unjustified.
Now, to estimate the exact percentage of fake accounts on the platform, Musk's team needs to access some information and sensitive company data. Data that Twitter itself is rifiutato to provide, as well as the reason why Elon Musk would have threatened to end the agreement.
In a letter to the SEC, his attorney, Mike Ringler, writes “This is a clear one material breach of Twitter's obligations under the terms of the merger agreement and Mr. Musk reserves all rights arising therefrom, including his right not to complete the transaction and his right to terminate the agreement ". And again, regarding the official documentation which states that less than 5% of Twitter users are represented by fake accounts, the lawyer explains that “Elon Musk does not believe that the testing methodologies used by the company are adequate, therefore the need to conduct his own analysis persists. The data requested by him are necessary to do so ".
Twitter's test results are based on internal data available only to the company itself. Without this data, it is impossible to estimate an accurate percentage of fake accounts on the platform.⭐️ Discover the new Weekly Flyer of GizChina with always different exclusive offers and coupons.