Home » Elon Musk cancels the takeover of Twitter: there will be consequences

Elon Musk cancels the takeover of Twitter: there will be consequences

A few months ago we learned the big news in which Elon Musk bought Twitter for 44,000 million dollars. However, this was discontinued weeks later due to the existence of a large number of bots on the platform and some stocks being devalued as a result. Now, Elon Musk made the decision to drop the deal the acquisition of Twitterwhat it might cost you $1 billion.

When Tesla CEO Elon Musk announced he was going to buy Twitter for $44 trillion, it was something no one expected. Although Musk has already made an initial investment with which acquired 9.2% of the company, the total purchase of this one surprised us. What he didn’t do was Shares on Twitter are skyrocketing both when his investment was disclosed, as was the case with his purchase agreement. And that’s it, it’s very common for everything Elon Musk does to end up going up or down with one of his tweets.

Elon Musk abandons buying Twitter because he didn’t provide him with the number of bots

Numbered robots on Elon Musk's Twitter

According to Elon Musk, Twitter did not provide him with the requested information on the number of fake accounts and bots on the platform. There is something wrong here, and that is that after the purchase agreement, Twitter mentioned that among its more than 330 million usersless than one 5% were robots. It may seem like a very small percentage, but it’s a scandal considering the number of users of the social network.

In fact, when the information came out in April, there was a collapse of the Shares of Twitter, which fell 15%. To make matters worse, Elon Musk fanned the flame by dropping pearls, such as mentioning in a Tweet that the 90% Twitter accounts could be bots. For this reason, he considers the number of bots to be more important and seems to deny that Twitter did not inform him sufficiently.

“As described below, Mr. Musk is terminating the merger agreement because Twitter violated several provisions of the merger agreement. He appears to have done false and misleading statements on which Mr. Musk relied to conclude the merger agreement, and it is likely to suffer a Opposite effect Substantial from the company, Elon Musk said in a letter to Twitter’s board.

Cyabra, an Israeli company, told Musk that 13.7% of accounts are bots

Elon Musk Twitter Bots Cyabra Actions

Researchers estimate that there is between a 9% and one fifteen% Twitter accounts that are robots or fake accounts. Even so, the only one that has released specific data recently is cyabra, an Israeli technology company. According to its CEO, Dan Brahmythe number provided by Twitter was wrong, since they confirmed that it was a 13.7%. To do this, they used machine learning (machine learning) to analyze millions of Twitter accounts.

After that, Elon Musk has even more arguments that he was not mistaken and that the figure provided by Twitter is lower than the real one. However, other factors must be taken into account. And that’s it, Elon Musk is the richest person in the worldhas 219 billion euros, but a large part of them are in action. For example, from SpaceX he has a 47% equity of the company, which means $50 billion.

Perhaps you have seen that the takeover of Twitter for 44 billion dollars is not profitable, thus showing that the social network”it’s not worth that much money“, if you really have that many bots. So you can probably find a new deal to buy it cheaper, although at the moment we only know that Twitter will take legal action. First, Elon Musk will have to pay Twitter $1 billion for leaving the deal.

Second, the company is likely to sue you and end the whole litigation. Over time we will see what happens because Elon Musk is known “trolldespite his great fortune.

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