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Elon Musk told Twitter that his $ 44 billion purchase is coming to an end

Elon Musk has made a huge announcement that his $ 44 billion purchase on Twitter is being plugged into the Idaho Sun Valley Conference by rubbing shoulders with other financial and technology giants.

The legal team of the founder of SpaceX accused the social media giant of failing to provide accurate data on the number of fake accounts and spam on the platform.

Musk, 51, made an offer to buy Twitter for the first time in April, after becoming the company’s largest shareholder, since then there have been repeated signs that he wanted to withdraw from the deal in April.

The world’s richest man had earlier halted the deal after his team said it wanted to do “necessary diligence” on the number of fake accounts on the platform.

On the day of the announcement, Twitter shares were down 6% in widespread trading. Musk offered $ 54.20 per share in April.

The world’s richest man had earlier halted the deal after his team said it wanted to do “necessary diligence” on the number of fake accounts on the platform.

Parag Agrawal, Twitter’s CEO, has attended Allen and Company’s Sun Valley conference for the past three days. She appears on Thursday wearing a black sweater and blue jeans

Parag Agrawal, CEO of Twitter, will face Ella Musk, CEO of Tesla, on Saturday at Musk’s annual Allen and Company Sun Valley conference, an event Agrawal has attended for the past three days.

In a letter to the Securities and Exchange Commission that dropped the bomb, Skadden Arps attorney Mike Ringler said Twitter violated several provisions of the agreement.

Ringler wrote, “Twitter has not fulfilled its contractual obligations.” He also accused the company of making “false and misleading statements” in making the deal.

It was previously reported that Musk would pay $ 1 billion if he withdrew from the deal. Twitter could still try to force Musk to stick to the original deal or force a higher payout by 11 p.m.

So far, it’s only been a brief statement on Twitter because Musk has pulled the plug

So far, it’s only been a brief statement on Twitter because Musk has pulled the plug

In a brief statement on Twitter, President Bret Taylor said, “The Twitter Council is committed to closing the transaction at the price and terms agreed with Mr. Musk and intends to take legal action to enforce the merger agreement. We are confident we will prevail in Delaware Chancery Court.”

Later, Twitter CEO Parag Agrawal retweeted that message.

Musk and Agrawal will meet again at the Allen & Company Sun Valley Conference, where Agrawal, 38, has attended private meetings for the past three days.

For annual invitations only, the conference is organized by the investment bank Allen & Company. This year, the five-day conference, July 6-10, is being held on the edge of Idaho’s Sawtooth National Forest, a small town of just 1,500 people.

The conference was attended by Bill Gates, Rupert Murdoch and Warren Buffet.

In a letter that dropped the bomb, Musk's legal team said Twitter violated several provisions of the agreement.

In a letter that dropped the bomb, Musk’s legal team said Twitter violated several provisions of the agreement.

Musk made the announcement Friday through attorney Mike Ringler

Musk made the announcement Friday through attorney Mike Ringler

Last month, Twitter sent Musk his

Last month, Twitter allowed Musk to access his “fire-hose,” a repository of raw data for hundreds of millions of tweets a day.

A section of the letter reads: “Twitter has not complied with its contractual obligations. For nearly two months, Mr. Musk has been searching for the data and information needed to “independently assess the prevalence of fake or spam accounts on the Twitter platform.”

Musk’s legal team accuses Twitter of rejecting and rejecting requests for data on fake accounts.

Musk threatened to suspend the deal unless the company proved that spam and bot accounts were less than 5% of users who see advertising on social media.

Last month, Twitter allowed Musk to access his ‘fire-hose’, a repository of raw data for hundreds of millions of tweets a day.

The founding team of Tesla found that the number of fake side accounts was much higher than the 5% publicly disclosed, Musk said.

In June, the Twitter committee unanimously voted to approve Musk’s offer.

Musk hasn’t tweeted about his decision to throw anything away. In his latest tweet on the eve of the announcement, the South African billionaire wrote: “He’s super ready for the development of future products with our awesome Tesla team! It’s such an honor to work with them.”

Among those who reflected on the situation were Donald Trump Jr. “Elon Musk is ending his deal to buy Twitter: so basically Twitter has a lot of spam accounts – much more than they leave – and they’ve ruined it. That’s it !!! As I said weeks ago spam accounts are probably 50% and not 5% of Twitter users. ”

Musk has confirmed that he had secretly had twins with Neuralink operations director Shivon Zilis and the news comes in the coming days.

Yale graduate of ice hockey and AI executive made a “recommendation to run Twitter” after Musk bought it

The news was that Musk had secretly had twins with Neuralink operations director Shivon Zilis in the photo above.

The news was that Musk had secretly had twins with Neuralink operations director Shivon Zilis in the photo above.

Court documents revealed that Elon Musk had quietly had twins with Shivon Zilis, the 36-year-old chief operating officer of Musk’s brain-machine interface, Neuralink.

Zilis, who was born in Ontario, Canada, met Musk through OpenAI, a non-profit organization that researched and disseminated artificial intelligence, which Musk founded in 2015, Insider reported.

Zilis has been a member of the OpenAI board since January 2020, according to his LinkedIn profile. He previously worked as a consultant for the company for three years.

He is also a fellow at the Creative Destruction Lab, a startup that focuses on the commercialization of science. He joined the company in 2015.

Zilis studied economics and philosophy at Yale, and also played as a goalkeeper for the women’s ice hockey team.

In 2015, Zilis was on Forbes ’30 Under 30 list in the venture capital category and in 2017, she had the opportunity to use the Teslan AI experience.

Last year, Zilis posted a gesture to Prince Harry’s launch in Silicon Valley along with a photo of the two in 2013, when asked to report on the technologies.

From 2017 to 2019, he was project manager at Tesla working on AI projects, with a special focus on autopilot and chip design.

Zilis is currently the director of operations and special projects for Neuralink, and has been one of the people Musk could touch to lead Twitter Inc. after reaching his $ 44 billion deal.

Elon Musk told Twitter that his $ 44 billion purchase is coming to an end

Source link Elon Musk told Twitter that his $ 44 billion purchase is coming to an end

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