Elon Musk Reaches Deal to Buy Twitter for $44 Billion

Elon Musk said Friday that his planned $44 billion purchase of Twitter is «temporarily on hold» pending details on spam and fake accounts on the social media platform, another twist amid signs of internal turmoil over the proposed acquisition.In a tweet, the Tesla billionaire linked to a Reuters story from May 2 citing a financial filing from Twitter that estimated false or spam accounts made up fewer than 5% of the company's «monetizable daily active users» in the first quarter.«Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,» Musk said, indicating he's skeptical that the number of inauthentic accounts is that low.A short time later on Friday morning, Musk tweeted that he remains committed to the purchase. Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuynIt wasn't clear whether the issue could scuttle the deal. Shares of both Twitter and Tesla swung sharply in opposite directions, with Twitter's stock tumbling 17% to $37.20 before trading opened in the U.S, and Tesla, which Musk had proposed using to help fund the Twitter deal, jumping 5%.

Naman Ramachandran The Twitter deal is temporarily on hold, billionaire Elon Musk posted on Friday.“Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk posted on Twitter.Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn— Elon Musk (@elonmusk) May 13, 2022In the tweet, Musk provided a link to a May 2 Reuters article quoting Twitter’s filing on Monday. “Twitter Inc estimated in a filing on Monday that false or spam accounts represented fewer than 5% of its monetizable daily active users during the first quarter,” the Reuters piece said.Musk has been vocal about cleaning the platform of spam bots.

Meek Mill has asked “big homie” Elon Musk to let him get in on his recent Twitter investment.The Tesla founder and entrepreneur successfully acquired the social media platform last month (April 25) for approximately $44billion (£34.5b).His offer was initially turned down by Twitter, which put a “poison pill” measure in place to stop a takeover attempt by Musk. However, the two parties later entered talks before the deal entered its final stages of negotiations.Mill has now publicly tweeted Musk and asked him directly if there’s any room for him to get in on the deal.“Elon musk let us invest in Twitter with you ‘big homie,’” Mill wrote, as you can see below.

Todd Spangler NY Digital EditorDevin Nunes, the former congressman who is now CEO of Donald Trump’s social-media rival to Twitter, claimed that his new boss “encouraged” tech mogul Elon Musk to acquire Twitter, to “take on these tech tyrants.”Musk says that’s false.“I’ve had no communication, directly or indirectly, with Trump, who has publicly stated that he will be exclusively on Truth Social,” Musk tweeted Friday, replying to a New York Post article about Nunes’ claims.In an appearance Wednesday on Fox Business Network’s “Varney & Co,” Nunes said, “President Trump, basically before Elon Musk bought it, actually said to go and buy it because the goal of our company is really to build a community where people are in a family-friendly, safe environment.” Nunes added, “we encouraged Elon Musk to buy” Twitter, because “someone has to take on these tech tyrants… Donald Trump wanted to make sure that the American people got their voice back and that the internet was open and that’s what we are doing.” Nunes, who is CEO of Trump Media & Technology Group, once sued Twitter, seeking $250 million in damages, alleging in part he was defamed by anonymous parody accounts “Devin Nunes’ Mom” and “Devin Nunes’ Cow.” A judge threw out the case.Musk has said he’s primarily interested in protecting “free speech” on Twitter, and he has criticized the company for allegedly having a left-leaning political bias. That stance has led right-wingers — who have long alleged Twitter (and other internet platforms) somehow stifle conservative viewpoints — to champion Musk’s $44 billion bid for Twitter.Twitter permanently banned Trump shortly after the Jan.

leaned into censoring certain users and content in the months leading up to his resignation.How things have already changed.Dorsey is among a new group of investors being floated by Elon Musk, the free-speech champion massing billions to complete his purchase Twitter, to participate as an investor in his private version of the company, according to a Securities and Exchange Commission filing from Thursday.The more than $7 billion in new money includes 19 investors, some of whom are current Twitter shareholders – including Larry Ellison, Sequoia Capital, Qatar Holding, and Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud of Saudi Arabia. Equity commitments range from $1 billion (Ellison) on down to $5 million (Honeycomb Asset Management).It wasn’t immediately clear how the $7 billion would fit into the standing $44 billion offer that Musk made for the company, which was accepted late last month.

The method behind the mega-purchase. Elon Musk made headlines around the world when he bought Twitter — and now he’s explaining why he did it.

Elon Musk brought a very special lady to this year's Met Gala — his mom, Maye Musk, and the pair seemed to have a great time at the star-studded celebration of fashion.This year's Met Gala accompanies the second part of the Costume Institute's exhibition, «In America: An Anthology of Fashion,» with the controversial theme «Gilded Glamour and White Tie.» The concept is a homage to the United States' Gilded Age, an era of immense economic growth and major industrialization, as well as massive income inequality, political upheaval, and post-Civil War racism.Musk himself has been at the center of some controversy recently and has faced criticism for his $44 billion purchase of Twitter, with critics chastising him for not spending that money on philanthropic efforts.Speaking with ET's Rachel Smith on the carpet the the Metropolitan Museum of Art in New York City on Monday, Musk defended the acquisition, arguing, «I do a lot of things philanthropically.»«Really, my companies are intended to do good for the future of humanity,» he continued. «With Tesla trying to accelerate the advances in sustainable transport and energy and SpaceX is um providing internet to the lesser [served] people of the world.»«We are able to help Ukraine with the Starlink terminals and give connectivity, particularly in some of the hardest hit areas,» Musk added.

Elon Musk has been making headlines after buying Twitter for a modest $44 billion cash on Monday.

Todd Spangler NY Digital EditorTwitter, which this week accepted a deal to go private in a $44 billion sale to Elon Musk, reported income a touch lighter than Wall Street predicated in the first quarter of 2022. But the social network blew away forecasts on earnings and user growth.Q1 revenue was $1.20 billion, up 16% year-over-year, reflecting “headwinds associated with the war in Ukraine,” according to Twitter.

SpaceX-time continuum. Elon Musk’s $44 billion Twitter takeover wasn’t the first time he owned the platform.

acquired by Elon Musk.Former president Donald Trump’s Truth Social app previously ranked far lower in the days leading up to Twitter’s purchase. It was No. 171 on April 23 and climbed to No.

The Tesla mogul and richest man in the world made a surprise offer to buy the social media platform putting in a succesful bid of $54. 20 a share to acquire it which the board accepted. “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated,” Mr Musk said in a statement.

Todd Spangler NY Digital EditorTwitter is now in Elon Musk’s hands. What his successful maneuver to buy the company means for its 200 million-plus users — or for media and entertainment companies that use the platform to reach global audiences — is anything but clear.In the space of three weeks, Musk went from disclosing a 9.2% stake in Twitter to clinching a $44 billion deal for the company on April 25.

Billionaire Elon Musk is set to buy Twitter for approximately £34.5 billion after reaching an agreement with the company.