The Horn News

Proudly American, Fiercely Independent

Get in the loop!

This field is for validation purposes and should be left unchanged.

Privacy Policy

One moment, please:

Processing your submission

  • Home
  • Politics
  • National News
  • Money
  • International
  • Health
  • Lifestyle
  • America Unleashed

Breaking: Musk says Twitter deal is ‘temporarily on hold’ over this…

May 13, 2022 By: The Horn editorial team

  • Facebook
  • linkedin
  • Post

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.

It wasn’t clear whether the issue could scuttle the deal.

Musk’s tweet comes a day after the social media company fired two of its top managers. Twitter said the company is pausing most hiring, except for critical roles, and is “pulling back on non-labor costs to ensure we are being responsible and efficient.”

In a memo sent to employees and confirmed by Twitter, CEO Parag Agrawal said the company has not hit growth and revenue milestones after the company began to invest “aggressively” to expand its user base and revenue.

Stock in both Twitter and Tesla swung sharply in opposite directions, with Twitter’s stock tumbling 18%, and Tesla, which Musk had proposed using to help fund the Twitter deal, jumped 5%.

Investors have had to weigh legal troubles for Musk, as well as the possibility that acquiring Twitter could be a distraction from running the world’s most valuable automaker.

Stock in both Twitter and Tesla swung sharply in opposite directions, with Twitter’s stock tumbling 18%, and Tesla, which Musk had proposed using to help fund the Twitter deal, jumped 5%.

Shares of San Francisco-based Twitter slipped 86 cents to $45.23 midday Thursday, more than 20% below Musk’s offer price of $54.20 per share.

 

April Flashback: Elon Musk laughed at this ‘sensitive’ tweet (Did you see this?)

 

The Associated Press contributed to this article.

GAM slot1

POPULAR

  • Boxer Floyd “Money” Mayweather earns his nickname in bizarre Vegas arrest
  • Ex-NHL star dead at 47 from mystery illness
  • Grammy-nominated rapper sentenced to 20 years in prison
  • Ageless! Soccer star Messi does unthinkable in sixth World Cup
  • Beloved country music star files for divorce
  • Fowl play? Viral mascot takes over World Cup
  • JD Vance’s liberal TV debut goes off the rails (shocker!)
  • UFC 250 will “never happen again” says…

GAM slot2

GAM slot3

GAM slot4

  • Sign Up Now
  • About Us
  • Social
    • Facebook
    • Twitter
  • Cookie Policy
  • Privacy Policy
  • Accessibility Statement
  • Terms & Conditions
  • Advertise
  • FAQ
  • Contact Us
  • Do Not Sell or Share My Personal Information
  • Join FREE

Copyright © 2026 | NewMarket Health Publishing, LLC