Elon Musk Puts On Hold $44 Billion Deal For Twitter. Here's Why 

Elon Musk, the world's richest man, had said that one of his priorities would be to remove "spam bots" from Twitter.

Elon Musk tweeted that his $44-billion deal for Twitter Inc was "temporarily on hold" on Friday while he waits for data on the proportion of its fake accounts,

Tesla CEO Musk, who added that he was still committed to the acquisition, decided to waive due diligence when he agreed to buy Twitter on April 25 

in an effort to get the San Francisco-based company to accept his "best and final offer".

Since then, technology stocks have plunged amid investor concerns over inflation and a potential economic slowdown. 

The spread between the offer price and the value of Twitter shares had widened in recent days,