Elon Musk has threatened to cancel the Twitter deal unless the social media platform can prove the number of spam accounts on its platform.
The Tesla CEO, who proposed $44 billion for the tech platform last month, is now questioning the company’s statement, that bots account are about 5% of its real users, saying the figure might be ‘much more’ than 20%.
The world’s wealthiest guy tweeted this morning, saying: “My offer was based on Twitter’s SEC filings being accurate.
“Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does.”
This comes days after Musk said he wanted to pause the purchase to make sure that fraudulent or spam accounts were less than 5% of the company’s 229 million users.
Despite the fact that Twitter’s board of directors approved the purchase last month, it has yet to be approved by shareholders and is not expected to close for at least several months.
Following the announcement on April 25 that Twitter’s board had approved his purchase, Twitter’s share price has been falling.
It was at $37.39 when it closed on Monday. It fell to $36.20 in pre-market trade today.