Insight Bureau: Elon Musk on Friday put his $44 billion Twitter deal on hold amid concerns of an increase in the number of fake or spam accounts on the platform.

Musk tweeted that Twitter deals are temporarily on hold pending details supporting the calculation that spam/fake accounts do indeed represent less than 5pc of users.

Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of usershttps://t.co/Y2t0QMuuyn

— Elon Musk (@elonmusk) May 13, 2022

Last month, Musk had clinched a deal to buy Twitter Inc for $44 billion cash in a transaction. Musk, the world’s richest man, had recently said that one of his priorities would be to remove “spam bots” from the platform.