ELON MUSK: Twitter Deal “On Hold”

Elon Musk‘s $44 billion purchase of Twitter is “temporarily on hold.”

The billionaire shared the news in a tweet this morning and said he’s pumping the brakes on the deal because Twitter claimed that less than 5% of its users are spam or fake accounts. Musk is skeptical that the number is that low. Musk has said that once he takes ownership of Twitter he wants to improve the platform by authenticating all human accounts. News of the deal being put on hold caused Twitter’s shares to dip 23% in pre-market trading. (New York Times)