Twitter Takeover: Elon Musk Eyes 25% Discount to Complete Deal

Twitter Takeover: Elon Musk Eyes 25% Discount to Complete Deal

  • Elon Musk has suggested that the Twitter takeover deal be worth 25% less than it is.
  • The Tesla CEO said this after the social media platform was estimated to be occupied by several bots.
  • Since both parties agreed to a $44 billion deal, the market capitalization of the company has fallen to $29.26 billion.

Tesla CEO, Elon Musk has suggested that his Twitter takeover should be worth far less than the original deal that was agreed.

Naija FM had previously disclosed that Musk and the Twitter board agreed on a $44 billion deal for the popular social media platform. Since then, however, the market capitalization of the company has dropped to $29.26 billion.

Only last week, the billionaire announced that he is putting the deal on hold, pending the completion of investigations into the platforms bot count.

Before the deal, Twitter claimed, in documents released to the Securities and Exchange Commission, that it had 229 million active daily users and less than 5% its total users were bot or spam accounts.

Twitter takeover

However, new estimates show that the platform’s bot and spam accounts could be as high as 25%, and the billionaire wants a 25% discount on the deal.

Read also: SpaceX Allegedly Paid $250k To Cover Up Elon Musk Sex Scandal

A post from a Twitter user Ian Cheng said:

“If 25% of the users are bots then the Twitter acquisition deal should cost 25% less.”

Musk responded with “Absolutely”.  Meanwhile, the billionaire is continuing to demand that the company explains how it arrived at the 5% estimated bot users. He added that the management’s refusal to get back to him on the actual numbers of bots was “suspicious”.

Follow on our social media handles FacebookInstagram, and Twitter to keep up with trending news and entertainment gist.

Show More

Related Articles

Back to top button