Elon Musk threatens to end deal with Twitter

Elon Musk has tweeted that his $44 billion deal with the social media company is being delayed…

And now he has threatened to break off the deal with them completely.

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Now Elon Musk is the ultimate incarnation of the classic eccentric billionaire…

As the founder, CEO and chief designer of not only Tesla but also SpaceX, he an awful lot goes after him.

Tesla is currently the world’s leading electric vehicle company…

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In 2020 alone, nearly 500,000 vehicles were bought and sold. The company is pioneering the future of electric vehicle travel, and Musk is its CEO.

And then there’s SpaceX…

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Space X became the first private company to successfully launch, orbit and recover a spacecraft, and the first to send a spacecraft to the International Space Station (ISS).

And thanks to his accomplishments, Musk has made a serious amount of money since starting his business…

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Back in January 2021, according to BBCMusk has finally become the richest man in the world, knocking out Jeff Bezos from 1st place.

A definite achievement, I know!

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However, the feud between Musk and Bezos continued throughout the year, with the pair fluctuating between 1st and 2nd place.

Well, until the end of last year…

Musk saw Tesla’s share price jump 4.9 percent at the start of the year — the rally came just days after the end of the first trading session of the year when they saw a 3.4 percent gain.

Shortly thereafter, Musk’s net worth soared to a staggering $188 billion. Bloomberg Billionaire Index.

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And with Jeff Bezos’ net worth of $187 billion, Elon Musk eventually became the richest man in the world.

Musk’s affairs only got better, and as of September 7, his fortune was estimated at more than $ 200 billion …

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He became the third person in the world to reach this milestone after Jeff Bezos and Bernard Arnault, CEO of French luxury brands Moët, Hennessy and Louis Vuitton.

A big achievement for Musk!

And, of course, he spoke about the news in the most typical manner for Elon Musk.

In response to the news, he simply tweeted, “How strange”…

Before adding, “Okay, back to work.”

Then, almost a month after he beat Bezos to become the richest man in the world…

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He secured his position in 1st place.

On October 25, 2021, Musk left his competitors far behind. reportedly received another 36 million dollars …

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Taking it to a whopping $269 billion, according to Forbes.

However, despite being crowned the world’s richest man, not everything was sunshine and rainbows for the CEO…

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It wasn’t until 2021 that he broke up with his longtime girlfriend Grimes and also had to pay some unpaid taxes due to unrealized profits from Tesla stock. So overall it has been a volatile year.

Elon really hit the headlines last year.

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And it has always been in honor of his success.

This year has also started well. The $11 billion he paid in taxes was definitely a thing of the past because he nearly tripled the amount he paid in 2021, which was just the beginning of 2022.

How? You can ask…

It’s all about his company Tesla.

In 2021, Tesla produced 936,000 vehicles, which, according to the data, led to a rise in share prices. LADbible.

And to appreciate his wealth…

After paying $11 billion in taxes last year, Musk gave away 0.0036% of his income. Yes, you may want to cry before bed, but it’s true.

And recently, Musk showed us all how rich he really is…

By offering $44 billion for Twitter, in which he had already acquired a 9% stake.

Musk wrote in a filing with the Securities and Exchange Committee: “I invested in Twitter because I believe in its potential to become a platform for free speech around the world, and I believe that free speech is a public imperative for a functioning democracy.

“However, after I made my investment, I now understand that the company will neither prosper nor serve this public imperative in its current form. Twitter needs to be turned into a private company.”

Yes, that’s right, Musk met with Twitter executives to discuss the possibility of acquiring the company.

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In accordance with Wall Street Journalhe got $46.5 billion in funding to make it happen.

And they agreed to make Musk the new owner of Twitter!

As unbelievable as it sounded, there was a reason his offer was too good to pass up…

According to WSJTwitter shareholders wanted a payout from the company, so his offer was made just in time.

Musk has already made it clear he wants to make some changes to the site…

One is longer tweets and the other is an excessive amount of ads that are muted. He also suggested that the site would be better off going private.

Opinions about Musk’s acquisition of the site were very mixed.

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While some are celebrating, others are strongly opposed to Musk’s rise to power.

Not only that, many are wondering why Musk didn’t donate the money to charity instead.

People pointed out that this amount of money could be used to help millions of people around the world.

But now attention has shifted to Musk’s other plan for the social media platform.

He promised to unblock Donald Trump on Twitter and people are not happy about it…

Move to Twitter, one person wrote: “If Trump comes back, I’m leaving. I know it’s not a big deal, but I hope Twitter gets hit hard when and if Trump comes back.”

“Dear Elon Musk, nobody wants Trump on Twitter. Sincerely, All Americans”, another tweeted.

Musk discussed his plans to lift the permanent ban that Trump is currently facing while speaking at Financial Times Conference.

When asked during the conference if he would allow Trump to rejoin the platform, Musk said the general question was “should Twitter be permanently banned.”

Musk said he thinks “permanent bans should be extremely rare,” noting that they should be “really reserved” for accounts such as “bots, spam, or fraudulent accounts.”

Musk then added that he felt it was “wrong to ban Donald Trump” after the 2021 Capitol Hill attack, while saying it was a “morally bad decision” and “stupid”.

“I think it was a mistake because it alienated a lot of the country and didn’t end up causing Donald Trump to lose his voice,” Musk said.

He later added that he would “lift the permanent ban,” although he noted that he did not own Twitter yet.

While stating that he thinks they “shouldn’t have permanent bans”, Musk also said that this doesn’t mean someone can say “whatever they want as long as they say something illegal”, instead this should be a “timeout”. or “temporary suspension”.

“I think that permanent bans fundamentally undermine the credibility of Twitter as a city square where everyone can have their say,” he said.

While it doesn’t look like Musk will be unbanning anyone at the moment, as he recently announced that he was postponing the purchase on Twitter…

He tweeted Friday’s update stating: “The Twitter deal is temporarily on hold pending details supporting calculations that spam/fake accounts do represent less than 5% of users,”

After his first tweet, Musk wrote that he “remains committed to the acquisition.”

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In his first post, Musk included an article Reuters about Twitter’s problem with fake accounts.

The report says that these spam accounts make up only 5 percent of all accounts on the social media platform, and that this is a “reasonable” number…

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However, he also mentioned that the number could actually be higher as it has not yet been independently explored.

It looks like Musk is waiting for confirmation before making a purchase.

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However, some believe he could back out of the deal, which would mean he would have to pay Twitter a $1 billion fee.

And now the titan has threatened to shut down the plug completely.

Scroll on to find out why…

The threat to pull out of the deal came after Musk said Twitter had failed to shut down “spam and fake accounts.” sky news.

A letter was sent to the US Securities and Exchange Commission accusing the Twitter platform of violating the acquisition agreement.

Letter declared that Twitter “refused to provide information that Mr. Musk has repeatedly requested since May 9, 2022 to facilitate his assessment of spam and fake accounts on the company’s platform.”

“Mr. Musk believes that the company is actively resisting and violating his rights to information (and the related obligations of the company) under the merger agreement,” the statement said.

The letter continues…

“This is a clear material breach of Twitter’s obligations under 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 merger agreement.”

“As the alleged owner of Twitter, Mr. Musk is clearly entitled to the requested data, which will enable him to prepare for the takeover of the Twitter business and facilitate the financing of his transaction,” the post reads.

The letter then stated that the suspicion arose because of Twitter.

“At this point, Mr. Musk believes that Twitter is openly refusing to fulfill its obligations under the merger agreement, which raises further suspicions that the company is withholding the requested data due to concerns that Mr. Musk’s own analysis of these data will be disclosed,” it read.

According to the news outlet, Parag Agrawal, CEO of Twitter, has publicly refused to provide evidence that less than 5 percent of accounts are fake or spam.

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Musk believes that more than twenty percent of Twitter accounts are fake or spam accounts. And while Agrawal insists they are removing millions of accounts from the Twitter platform, Musk wants to lower the price.

“Twitter is committed to completing the transaction at the agreed price and terms as quickly as possible,” he said. sky news.

He continued, “You can’t pay the same price for something much worse than they claimed. The more questions I ask, the more my anxiety grows. They claim to have this complex methodology that only they can understand… It can’t be some deep mystery that is, like, more complicated than the human soul or something like that.”

So it looks like there’s a real feud going on between Twitter and Musk at the moment.

What do you think?

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