Why Elon Musk changed his mind on the Twitter deal: Explained | World news

There’s never a dull moment with Elon Musk, after all. As the billionaire agreed to continue with his $44 billion deal to buy Twitter in a surprising move, shares of the social media site increased while causing alarm among media watchers over the kind of free speech that will flourish on Twitter under Elon Musk .

In the months since Elon Musk’s initial bid to buy Twitter in April, the Tesla boss has faced a humongous legal challenge, one that could even push the world’s richest man as Twitter tries to force him out. with the purchase you want to back up. .

Read more: Elon Musk’s words: ‘Can you buy Twitter, then delete it’, his ex-wife has asked

But Elon Musk’s mistakes put him on the back foot in a trial against Twitter that led him to request that the trial be put on hold as he completed the purchase.

Here’s a look at Elon Musk’s Twitter deal:

Why did Elon Musk back out of the Twitter deal?

Elon Musk based his argument against the social media site saying that Twitter displays too many “bot spam” accounts. To bolster his argument, Twitter’s former head of security turned agent, Peiter “Mudge” Zatko, filed a lawsuit in July alleging that Twitter misled regulators about its efforts to control millions of spam messages.

What is wrong then for Elon Musk?

In the test when Elon Musk has pressed the debate of the bots, it shows that the billionaire announced the purchase at the end of April without the feeling of what it is. His behavior does not reflect the approach one takes to buy a major company.

Read more: You are free to tweet: Elon Musk- Parag Agrawal revealing messages fall out

What made Elon Musk change his mind?

During the investigation, Elon Musk faced potential interest costs as if he lost the test, he would not only be forced into buying Twitter but would also need to pay interests that could increase the overall cost of the purchase.