Opinion — Twitter Sale Drama
Elon Musk Has Paused His Twitter Deal
Will he or will he not, that is the question
Breaking News! And just when you think it was a done deal, look again. It’s going to be a bumpy ride, isn’t it right Margo Channing or Bette Davis.
Elon Musk tweeted;
Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users
Although he tweeted that he is committed to the sale, the shares of Twitter tumbled 18%, as soon as Musk hit the send button.
Still committed to acquisition
In the Reuters report that Elon Musk quoted with his tweet, the company disclosed that 5% of its total users are fake or spam accounts. In the report, the company stressed that until the buyout pushes through, it isn’t sure if advertisers will continue to spend their advertising dollars on the platform.
Musk must have checked his account if it has fake followers and according to Sparktoro, Elon Musk Twitter account has over 57.6%, fake followers.
Ouch!
If the deal doesn't push through as others are already speculating, does it mean former CEO Jack Dorsey will forfeit the $270 million he would make once the check of $44 billion is cleared?
Developing story
Who knows what Musk will tweet next? There are times when it feels like Musk uses Twitter as his stage, for his jokes and whathaveyou, a few days ago he tweeted;
If I die under mysterious circumstances, it’s been nice knowin ya
He also believes Trump should be back on the social media platform.
But it was his very public feud with Bill Gates that caused a firestorm on Twitter. He made a meme of the pregnant man and compared it with Gates, that was after he found out the billionaire philanthropist was short-selling Tesla stocks.
Yes, another Twitter drama.
Final words
Elon Musk is a tech titan, but he is also a performer. Twitter is his biggest gamble yet, what he does with the social media platform could have as much impact as the electric cars Tesla produces.
Will he be the forebearer of free speech, but before that, he needs to sign the $44 billion check or walk away from the hostile takeover deal that he initiated.
Thank you for reading.
Sources:
Twitter estimates spam, fake accounts comprise less than 5% of users -filing
Breakingviews: Elon Musk probably won’t buy Twitter
Want some free reading?
This Is How Much Money Bill Gates Could Have Made After He Short-Sold Tesla — (complementary reading)
The Story Behind Bill Gates Owning More Farmland Than Any American Today — (complementary reading)
Bill Gates Exposed: He Is Short Selling the Stock Of Tesla Worth $500 Million — (complementary reading)
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