Not convinced by the data that Twitter provided him, Elon Musk would have informed his entourage of his disinterest in the social network. A decision could be communicated soon.
In its July 7 edition, the Washington Post indicates that Elon Musk’s takeover of Twitter is gradually heading towards failure. Several anonymous sources told the newspaper that Elon Musk is no longer working on the financing of the operation, which should have cost him 44 billion dollars (with the help of investments from partners who would have brought 7.139 billion). The entourage of the billionaire indicates that he was not convinced by the data that Twitter provided him, while he had campaigned for several weeks to obtain them by threatening not to finalize the deal. The most likely track today seems to be that of renunciation.
A Billion Dollar Whim
Why wouldn’t Elon Musk want Twitter anymore? Officially, the billionaire raises doubts about the percentage of fake accounts present on the platform. Twitter says there are less than 5%, Elon Musk is betting on a lot more. The billionaire asked the network’s management for figures, got them, but reportedly concluded that he couldn’t get anything out of them. This is the reason that should motivate its possible withdrawal. Elon Musk wants to make Twitter look like a liar and, why not, claim compensation from the social network. The agreement concluded indicates that in the event of abandonment, the actor responsible will have to pay 1 billion dollars to the other.
Unofficially, one can imagine that fake accounts are not the only obstacles to the takeover of Twitter. Elon Musk can tell himself that Twitter will bring him more problems than anything else, that the communication coup is successful or, from a financial point of view, that this takeover costs far too much compared to the real value of the social network. Since its proposal on April 25, the action has continued to fall.
Of course, if he really gives up, Elon Musk risks favoring the trail of fake accounts. In this scenario, he will be able to claim money from Twitter. If he chooses another, he will have to find a good excuse to start a withdrawal procedure. He would probably have to pay $ 1 billion in compensation to the social network, which he would probably sink in the process.
Is redemption still possible?
Even though the Washington Post seems pretty confident, there is still some hope for Elon Musk fans. A few weeks ago, the boss of Tesla and SpaceX organized a question and answer session with Twitter employees where, strangely, he managed to reassure. Why go to so much trouble if his decision was already made? The bluff trail is still a possibility. Elon Musk may possibly leak this information to scare Twitter and, why not, obtain new preferential conditions. Note, however, that the Washington Post belongs to Jeff Bezos, the sworn enemy of Elon Musk. Is this really the media he would prefer to release false information?
It is likely during the summer that the fate of the takeover of Twitter by Elon Musk will be sealed. If agreed, the transition should take place at the end of the year. Otherwise, Twitter should announce the failure of the operation in the coming weeks.