Elon Musk: The Deal Can't Move Forward Unless Twitter Proves Fake Accounts Are Less Than 5%

Elon Musk said that Twitter has 20% fake or spam accounts, which is four times what Twitter claims, and the ratio could be much higher than 20%. Yesterday, Twitter's CEO publicly refused to show proof of <5%. Unless Twitter proves that there are 5% fewer fake accounts, the deal cannot move forward. It is reported that if Musk pulls out of the deal, he will be required to pay a $1 billion termination fee to Twitter and could be subject to additional litigation. Previously, Elon Musk tweeted on May 13th that the Twitter deal was temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users.