Elon Musk refused to elaborate on his axed Twitter takeover this weekend as he attended a summit dubbed the ‘billionaire’s summer camp’.
The Tesla tycoon repeated claims about the prevalence of fake accounts on the platform at the Allen & Co Sun Valley Conference in Idaho on Saturday but did not expand on the deal.
Flying the coop: Elon Musk abandoned his £36.5billion takeover of Twitter over what he claimed were ‘false and misleading representations’ from the social media site
On Friday he abandoned his £36.5billion takeover of Twitter over what he claimed were ‘false and misleading representations’ from the social media site.
Representatives for Musk informed the US Securities and Exchange Commission that Twitter had failed to provide information on how it assessed the number of spam accounts on the platform.
But Twitter boss Bret Taylor insisted the board was ‘committed to closing the transaction’ and ‘plans to pursue legal action to enforce the merger’.
Musk says as many as 20 per cent of Twitter’s 330m accounts were counterfeit, not the 5 per cent figure that Twitter claims. Experts predict Twitter’s value could plunge by as much as 30 per cent today when stock markets reopen.
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