Elon Musk's $44 Billion Twitter Buyout 'On Hold'

Daniel Mitchell-Benoit
Someone holding a phone displaying Elon Musk's Twitter page in front of a projected background of the twitter logo.
Getty | Avishek Das

Tesla CEO Elon Musk made headlines not long ago after he made an offer to buy social media platform Twitter for $44 billion. That offer was then accepted, and since then we've seen users gearing up for what changes he's wanting to make.

However, it seems there may be a delay in those changes as Musk recently announced the acquisition is 'on hold' until he gathers a bit more information about Twitter's userbase.

An Elon Musk Tweet surprised quite a few people this morning.

Alongside a link to a Reuters article, he wrote that his Twitter purchase is on hold until he learns more about what percentage of the platform's users are fake accounts.

The article reports on a filing from earlier this month.

Elon Musk at the Met Gala, smiling at a camera.
Getty | Jeff Kravitz

The filing states that spam accounts "represented fewer than 5% of its monetizable daily active users during the first quarter."

It also mentioned Musk himself, saying there are several risks afloat until the deal closed, like whether or not advertisers would continue to invest in Twitter and "potential uncertainty regarding our future plans and strategy."

Musk says he's still committed to the purchase.

A few hours later, in a reply to the first Tweet, he replied with the above. This was potentially to mellow out the reaction and assure stockholders that he does still plan on buying the joint seeing as Twitter stocks fell up to 25% after his announcement of the pause.