Twitter shareholders approved the sale of the social network to the billionaire Elon Musk for 44,000 million dollars, despite the fact that the owner of Tesla has just sent his third letter to the company to terminate the contract.
According to the Archyde.com agency, the vote of the Twitter shareholders to approve the sale of the platform was held this Tuesday, September 13. With this, the company considers all the necessary conditions fulfilled on its part for the transfer to take place.
Why does Elon Musk no longer want to buy Twitter?
In July 2022, after a series of talks, Elon Musk communicated through his lawyers that he had decided to break the Twitter purchase agreement by pointing out that the company’s managers had provided him with misleading information about the number of false accounts and bots in the microblogging service.
Back then, Elon Musk also stated that it is very strange that tweets most popular of all time have only received ‘likes’ from approximately 2% of daily active users. In addition, to point out that the algorithm of the social network was manipulated, which was denied by Twitter.
Also, in August 2022, Elon Musk sent a new letter to break the agreement alleging security and privacy flaws reported by legendary hacker Peiter Mudge Zatko, who was fired from Twitter after working for 15 months. Then, on September 9, another letter arrived at the offices of Twitter, after Musk’s lawyers learned that the social network reached a severance agreement with the fired employee for 7.75 million dollars.
Twitter reveals that it has lost a lot of money and blames Elon Musk for not buying them
Although Elon Musk was willing to buy Twitter for 44,000 million dollars, a series of inaccurate data caused the founder of Tesla and SpaceX to cancel the purchase of this famous social network. The unexpected decision has not been well received by company executives who accuse him of losing them a lot of money.
As detailed by The Verge, Twitter presented its financial report for the second fiscal quarter and its figures have not been as good as expected. According to executives and investors, this loss of money would have a culprit and it would be the failed purchase attempt by Elon Musk.