Elon Musk Set To Pull out of Twitter Deal

Elon Musk in a letter to the company, filed Friday with the Securities and Exchange Commission, Musk has accused Twitter of making “false and misleading representations” about the majority of fake accounts on its platform.

He revealed that the company has not complied with its responsibilities to share data and information that he says he needs to evaluate its business.

This in no other definition means that the owner of SpaceX and CEO of Tesla won’t buy the rest of Twitter for a total of $44 billion, but he’ll still own a big chunk.

In April, Musk took on a 9 percent stake in the company, making him the largest individual shareholder, and, later that same month, he announced he wanted to take it privately by swallowing up the rest.

So if the deal had gone through, it would have been Elon Musk’s private company, rather than what it still is: a publicly traded corporation owned in large part by Elon Musk.