The Washington Post reported Thursday that Musk's $44 billion deal to buy the micro-blogging site is in serious doubt because of concerns about fake accounts.
The Met Gala will take place in New York on May 2, 2022. The photo was taken for The Met Museum.
An anonymous source with knowledge of the discussions told the Post that talks between Musk's team and investors who could help him finance the deal have slowed recently because of the lack of co-operation from the social networking site.
There could be a change in Musk's approach to closing the deal, but it's not clear what that change is.
Concerns have been raised about the number of accounts on the micro-messaging service.
According to the Post, Musk's team has determined that the claim that less than 5% of users are fake is not true.
Neither Musk nor the social media company responded to the questions from Forbes.
The party that quits the deal will have to pay a $1 billion penalty, which will likely result in a legal battle. The company could try to force Musk to follow through with the purchase if he fails to do so.
The board of the company accepted Musk's offer to purchase all of the company and take it private at a valuation of $54.20 a share, a deal that followed weeks of maneuvering by both the company and the world's richest person. Musk said on May 13 that he was putting the deal on hold until he got more data on fake and fraudulent accounts. Musk's team was given access to user data in order to alleviate the concerns. Over the past few months, doubts over whether the deal will close have caused the stock to plummet. The market cap of the company is less than $30 billion. After he criticized the social network for its moderation policies, Musk decided to purchase it. Once he becomes owner, he will allow all speech permissible by law.
A bombshell Insider article published Wednesday revealed that Musk secretly fathered twins with an executive at Neuralink, a company he co-founded and serves as CEO of. Musk said he was doing his best to help the population crisis.
The deal to buyTwitter is in trouble.
Musk said he was doing his best to help the underpopulation crisis.
The report says that Musk is the father of twins.
The deal is on hold, says Musk.
If the deal goes through, Musk will pay a $1 billion fee.
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