Elon Musk says he's 'still committed' to buying Twitter but deal is now 'temporarily on hold'


Elon Musk's deal to buy Twitter is now on hold, according to the Tesla CEO.
On Friday, Musk tweeted that his planned purchase on Twitter is "temporarily on hold pending details supporting" a calculation that spam and fake accounts represent less than 5 percent of users on the platform. He linked to a Reuters report, which said Twitter provided this estimate in a recent filing.
Twitter's stock quickly took a hit after Musk's announcement, which he followed up by saying he is "still committed" to the acquisition. Last month, Musk said spambots were the "single most annoying problem on Twitter," and he vowed, "if our Twitter bid succeeds, we will defeat the spam bots or die trying!"
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The social media company in April accepted Musk's offer to purchase it for about $44 billion, $54.20 per share, but the deal still hasn't officially been completed.
According to The New York Times, some analysts saw Musk's tweet as an attempt to drive down the price of his Twitter purchase or set the stage to actually back out of it. "Many will view this as Musk using this Twitter filing/spam accounts as a way to get out of this deal in a vastly changing market," Wedbush analyst Daniel Ives said, while CNN commentator Catherine Rampell suggested his concern over spam accounts could be a "cover story for other reasons to put the deal on hold or try to renegotiate it."
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.
-
August 19 editorial cartoons
Cartoons Tuesday's political cartoons include former Russian territories, Texas redistricting, and cellphone-free classrooms
-
Forest Lodge: William and Kate's new home breaks with royal tradition
In the Spotlight Wales' said to hope move to 'forever home' in Windsor Great Park will 'leave unhappy memories behind'
-
Cloudbursts: what are the 'rain bombs' hitting India and Pakistan?
The Explainer The sudden and intense weather event is almost impossible to forecast and often leads to deadly flash-flooding and landslides
-
Trump said to seek government stake in Intel
Speed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to China
Speed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with Disney
Speed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B deal
Speed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance merger
Speed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profits
Speed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new high
Speed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliable
speed read The Labor Department is collecting less data for its consumer price index due to staffing shortages