Tue Jul 12, 2022 – 3:39 pm EDT
You’re invited! Join LifeSite in celebrating 25 years of pro-life and pro-family reporting at our anniversary Gala August 17th in Naples, Florida. Tickets and sponsorships can be purchased by clicking here.
(LifeSiteNews) — Tech billionaire Elon Musk filed documents with the Securities and Exchange Commission on Friday to inform Twitter he no longer intends to purchase the company.
In the documents, the pro-free speech Tesla founder told Twitter he is canceling his $44 billion offer to buy the social media giant because he says the company misrepresented the number of spam accounts and fake users that exist on the site, artificially inflating the company’s worth.
Musk’s filing admits that he has made this determination without being “provided” the “complete information” that would “enable him to do a complete and comprehensive review of spam and fake accounts on Twitter’s platform,” but he insists that “all indications suggest that several of Twitter’s public disclosures regarding its mDAUs (monetizable daily active users) are either false or materially misleading.”
In effect, Musk alleges that Twitter is not worth the $44 billion he agreed to pay, because there are far fewer users on
The remainder of this article is available in its entirety at LifeSite News
The views expressed in this news alert by the author do not directly represent that of The Official Street Preachers or its editors