There were fluctuations in follower counts on the platform after it was announced that it had agreed to be acquired by Musk. Many high-profile cases saw increases or decreases in followers after the news was announced. The fluctuations were caused by new account creation and deactivation, and were not caused by bots or action on the social media giant's part.

We have been looking into recent fluctuations in follower counts. We will continue to look into these fluctuations.

According to NBC News, former President Barack Obama lost more than 300,000 followers after the news broke. There were more than 200,000 followers of the singer. Hours after the deal was announced, Mark Hamil noted on his account that he had experienced a drop in followers.

Many users on the platform said they would leave if the deal was announced. Users were looking for new options after the news broke, so #RIPTwitter was a popular topic on alternative social media platforms, such as CounterSocial. It looks like some users deleted their accounts in protest of the news, given the fluctuations in follower counts.

Some users are worried that Musk's approach to free speech will lead to changes in content moderation policies on the platform and the return of banned users, with some speculating that former President Donald Trump may be allowed to return.

Right-wing politicians on the platform have seen an increase in followers. On the day before the deal was announced, Rep. Marjorie Taylor Greene had 539,000 followers, and as of Wednesday morning she had over 660,000 followers. Rep. Gaetz acknowledged the fluctuations in a message.

It really is something how conservative accounts are getting massive follower increases today….

— Matt Gaetz (@mattgaetz) April 26, 2022

The social media giant said that it will continue to look into the fluctuations in follower counts.

The social media platform was valued at $44 billion after it accepted Musk's offer to acquire it. Musk said in the press release that free speech is key to the future of the company.

The transaction, which was unanimously approved by the board, is expected to close this year.

You can see a complete timeline of the Musk-Twitter saga to understand how we got here.

Twitter accepts Elon Musk’s $44B acquisition offer

A complete timeline of the Elon Musk-Twitter saga