Musk: Twitter 'deal cannot move forward' unless CEO proves spam account claims

Elon Musk's $44 billion deal to take over Twitter will not "move forward" unless the CEO of the tech company can prove the number of fake or spam accounts on the platform.

Musk tweeted on Tuesday that his cash buyout offer for Twitter was based on the company's filings with the Securities and Exchange Commission on the number of fake or spam accounts on the platform "being accurate." Twitter has disclosed that it estimates spam or fake accounts represent less than 5% of users since 2013, but Musk said he believes that number could be much higher and wants Twitter CEO Parag Agrawal to "show proof."

Musk tweeted that "20% fake/spam accounts, while 4 times what Twitter claims, could be *much* higher. My offer was based on Twitter’s SEC filings being accurate. Yesterday, Twitter’s CEO publicly refused to show proof of <5%. This deal cannot move forward until he does."

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