Elon Musk officially quits buying Twitter

Written by Mohammed Elkorri on Sunday July 10, 2022

Billionaire Elon Musk announced on Friday that he had withdrawn from the takeover of the social network Twitter. The transaction was estimated at $44 billion.

Elon Musk officially quits buying Twitter

The owner of Tesla justified his renunciation of the acquisition of Twitter by the “violation of several provisions”. Thus, he sent a letter to the board of directors of Twitter to inform him of his decision. The richest man in the world considers that the community site does not live up to the potential of a platform where one is supposed to respect the fundamentals of freedom of expression.

Elon Musk also clarified that the leaders of the platform did not provide him with all the information requested on the number of inauthentic accounts and spam.

“Twitter failed to comply with multiple terms of the agreement and appears to have provided false and misleading information upon which Musk relied in entering into the acquisition agreement,” the man’s lawyers say. strong in a letter.

It should be noted that by abandoning the purchase of the famous social network, Elon Musk exposes himself to legal proceedings, which could cost him up to a billion dollars in damages.