Concerns over how many fake accounts are active on Twitter has prompted Elon Musk, who tabled an offer to buy the platform, to call in the US Securities and Exchange Commission (SEC) to investigate. .Twitter's first quarter financial filings this year said it estimated spam accounts represented fewer than 5%. Twitter also admitted that, due to "an error," it overstated user numbers by between 1.4 and 1.9 million over the past three years. .The billionaire owner of Tesla on Tuesday posted a poll on Twitter.."Twitter claims that >95% of daily active users are real, unique humans. Does anyone have that experience?" the poll queried Twitter users. .One follower suggested the need for an SEC investigation, to which Musk responded, "Hello @SECGov, anyone home?".On Friday, Musk tweeted he was putting his purchase of Twitter on hold until he could get more details supporting Twitter's claims "that spam/fake accounts do indeed represent less than 5% of users" and said he believed spam accounts make up closer to 20% of all Twitter accounts. .During a talk at the All-In Summit tech conference on Monday, Musk said he is still waiting for answers from Twitter. ."The more questions I ask, the more my concerns grow," said Musk.."At the end of the day, it has to be fixable.".He said he is still waiting for answers, "And Twitter is refusing to tell us."."My offer was based on Twitter's SEC filings being accurate," said Musk in a Tuesday tweet.."Yesterday, Twitter's CEO publicly refused to show proof of <5%. This deal cannot move forward until he does.".Musk originally offered to buy Twitter for $54.20 per share, amounting to a $44 billion. After Musk's grumblings last week, Twitter stock has been on the decline and dropped as low as $37.39 per share on Monday, nearly 30% lower than Musk's original offer..The stock has fallen further since Monday dropping below $37.00 per share for most of Wednesday, an 18% drop in the past five days. .Investors concerned Musk will abandon his offer to buy Twitter have been dumping stock..Musk has, in the past, shown contempt towards the SEC, after the financial regulator charged him with civil securities fraud in 2018 after he tweeted he was looking to take Tesla private and had "funding secured.".The matter was resolved in 2019 with a revised settlement between Tesla, Musk and the SEC, including Musk agreeing to step down as chairman of Tesla's board for three years, as reported by CNBC. .On Wednesday, Musk also expressed in a tweet he will no longer vote Democrat. ."In the past I voted Democrat, because they were (mostly) the kindest party," said Musk in his tweet. ."But they have become the party of division and hate, so I can no longer support them and will vote Republican." ."Now, watch their dirty tricks campaign against me unfold..."
Concerns over how many fake accounts are active on Twitter has prompted Elon Musk, who tabled an offer to buy the platform, to call in the US Securities and Exchange Commission (SEC) to investigate. .Twitter's first quarter financial filings this year said it estimated spam accounts represented fewer than 5%. Twitter also admitted that, due to "an error," it overstated user numbers by between 1.4 and 1.9 million over the past three years. .The billionaire owner of Tesla on Tuesday posted a poll on Twitter.."Twitter claims that >95% of daily active users are real, unique humans. Does anyone have that experience?" the poll queried Twitter users. .One follower suggested the need for an SEC investigation, to which Musk responded, "Hello @SECGov, anyone home?".On Friday, Musk tweeted he was putting his purchase of Twitter on hold until he could get more details supporting Twitter's claims "that spam/fake accounts do indeed represent less than 5% of users" and said he believed spam accounts make up closer to 20% of all Twitter accounts. .During a talk at the All-In Summit tech conference on Monday, Musk said he is still waiting for answers from Twitter. ."The more questions I ask, the more my concerns grow," said Musk.."At the end of the day, it has to be fixable.".He said he is still waiting for answers, "And Twitter is refusing to tell us."."My offer was based on Twitter's SEC filings being accurate," said Musk in a Tuesday tweet.."Yesterday, Twitter's CEO publicly refused to show proof of <5%. This deal cannot move forward until he does.".Musk originally offered to buy Twitter for $54.20 per share, amounting to a $44 billion. After Musk's grumblings last week, Twitter stock has been on the decline and dropped as low as $37.39 per share on Monday, nearly 30% lower than Musk's original offer..The stock has fallen further since Monday dropping below $37.00 per share for most of Wednesday, an 18% drop in the past five days. .Investors concerned Musk will abandon his offer to buy Twitter have been dumping stock..Musk has, in the past, shown contempt towards the SEC, after the financial regulator charged him with civil securities fraud in 2018 after he tweeted he was looking to take Tesla private and had "funding secured.".The matter was resolved in 2019 with a revised settlement between Tesla, Musk and the SEC, including Musk agreeing to step down as chairman of Tesla's board for three years, as reported by CNBC. .On Wednesday, Musk also expressed in a tweet he will no longer vote Democrat. ."In the past I voted Democrat, because they were (mostly) the kindest party," said Musk in his tweet. ."But they have become the party of division and hate, so I can no longer support them and will vote Republican." ."Now, watch their dirty tricks campaign against me unfold..."
