Elon Musk has warned of ending the deal with Twitter.
Elon Musk has warned that he will cancel a $44 billion deal to buy Twitter Inc. if the social media network does not provide data on spam and fake accounts.
Elon Musk (Elon Musk) has Twitter (Twitter) Warned to terminate the deal with According to Reuters, Elon Musk has warned that if the social media network (Social Media) A $44 billion deal to buy Twitter Inc. (Twitter Deal) will cancel. Let us tell you that in April, Musk announced the purchase of Twitter for $ 44 billion. Earlier in May, Musk said the deal had been put on hold until it was discovered that spam or fake accounts accounted for less than 5 percent of the microblogging site’s total userbase.
Experts believe that in the case of Twitter users, up to 9-15 percent can be active bots. Social media activity is boosted with the help of these bots or spam accounts. Currently, Twitter does not demand real identity. If there is wrong activity from an account, then action is taken against it.
Musk raised 50 thousand crores to buy Twitter
Let us tell you that Musk has been successful in raising more than 50 thousand crore rupees from a group of investors to buy Twitter. This fund has been raised from a total of 19 investors. Oracle co-founder Larry Ellison is among investors set to be part of Musk’s investment proposal.
In addition, Saudi Crown Prince Alwaleed bin Talal bin Abdulaziz Alsaud has pledged $35 million to buy Twitter shares in support of Musk.
This deal to buy Twitter is worth $ 44 billion. To complete the deal, a loan of $ 13 billion has been arranged in the name of Twitter, a margin loan of $ 12.5 billion has been arranged on Tesla stocks, Musk will put the rest of the amount from his own pocket. This debt of $ 13 billion is 7 times Twitter’s estimated EBITDA for the year 2022. This is the reason why some banks have only participated in giving margin loans.
Musk made his offer to Twitter on April 14. At the same time, on April 21, Musk submitted the commitment to give loans to the banks, only after which Twitter gave the green signal to the deal.