Last Minute: Elon Musk no longer wants to buy Twitter

Deepak Gupta July 8, 2022
Updated 2022/07/08 at 10:59 PM

One of the most popular news this year was the announcement of Elon Musk’s willingness to buy from Twitter. The proposal to buy the social network Twitter for 44 billion dollars caused a lot of change, but Elon Musk gave up on buying Twitter.

Lawyers for the richest man in the world have already sent a letter notifying the company.

Elon Musk's purchase of Twitter, once taken for granted, seems to have come to an end. If many still believed that Musk would be interested in acquiring the social network, many others had no hope that this would happen.

Tesla's CEO, through his lawyers, sent a letter to the company announcing their disinterest in the purchase. With such a scenario, Musk risks a hefty fine for voiding the deal.

Last Minute: Elon Musk no longer wants to buy Twitter

The story of Twitter mogul Elon Musk's purchase has undergone several twists and turns since the official announcement was made. On April 25, there was talk of a multi-million dollar business and recently there was a debate about the number of fake accounts that populate the social network.

After official announcement of a 44 billion dollar business, there were many tweets from Elon Musk with ideas to implement on the social network, as well as the disclosure of so many others shared internally with potential investors.

However, on May 13, developments that appear to be strategic are made public. Elon Musk come to public say that the purchase of the social network is temporarily suspended until you have information on how many active accounts are fake. According to Twitter investors, this setback was nothing more than a strategy to lower the purchase price. Such an attitude caused many to lose money, since the value of the shares dropped considerably with the announcement.

Twitter is one of the most popular social networks in the world, being the platform where news, debates and opinions flow faster and more dynamically. However, like any other service of the kind, this social network is also full of fake profiles that end up 'contaminating' the social space and 'annoying' users with real accounts who are more active.

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