A protracted legal battle could also potentially drag down the company's stock, giving Musk more leverage to renegotiate Twitter's sale price. The news comes less than a week after the microblogging site sued Tesla CEO in Delaware, accusing the mogul of agreeing to buy the site then attempting to "trash the company, disrupt its operations, destroy stockholder value, and walk away".
On Thursday, Twitter told the press that it was blocking over a million spam accounts per day, and in May, its CEO wrote a long thread about how it determines how many of its users are bots.
In a fresh SEC filing, Twitter shared a letter it received from Musk's legal team indicating displeasure with the company's offered information regarding the level of "spam and fake accounts" on its service, reports TechCrunch.
As per the Bloomberg Billionaires Index, Musk's net worth stands at $193 billion, as of May 25. This means that Musk had seen $77.6 billion of his wealth sheared off since the start of the year.
The Tesla CEO on Tuesday said that the $44 billion deal at $54.20 a share "cannot move forward" until the Twitter CEO Agrawal proves the actual bot numbers. While Twitter maintains it has less than 5 per cent fake/spammy accounts on its platform, Musk believes the number can be as high at 50 per cent, and wants Agrawal to come clean on this.
