Elon Musk has announced the deal to buy Twitter for £34billion is off.
A legal document stated: "Mr. Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement".
Musk, who is worth an estimated £214billion, had promised that Twitter will continue to be a platform for free speech.
He tweeted: "I hope that even my worst critics remain on Twitter, because that is what free speech means."
In a statement, he added: "Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.
"I also want to make Twitter better than ever by enhancing the product with new features, making the algorithms open source to increase trust, defeating the spam bots, and authenticating all humans."
"Twitter has tremendous potential – I look forward to working with the company and the community of users to unlock it."
Musk also said he would reinstall Donald Trump's Twitter account after he was blocked from the social media platform.
The now dad of 10 welcomed newborn twins to the world last year with his Neuralink executive Shivon Zilis.
News broke of their arrival earlier in the week and their birth is said to have been just weeks before the billionaire had his second child with singer Grimes.
And now he has hinted he might continue to expand his ever-growing brood in the future.
After being congratulated on the announcement, Elon told Page Six : "Bravo to big families."
Then, when asked how many kids he'd like to have in total, he responded: "As many as I am able to spend time with and be a good father."
The Tesla founder, 51, has previously been open about his concern of declining birth rates and continued: "My eldest are off to college, and teenagers don’t want to spend much time with their parents. I wish they would (sigh)."
The SpaceX founder also has kids with ex-wife Justine Musk - twins Griffin and Vivian, who were born in 2004, and triplets Kai, Saxon and Damian, whom he welcomed in 2006.
The pair also had a son called Nevada in 2002, but the tot sadly passed away aged just 10 weeks old from sudden infant death syndrome.
On Wednesday, it was announced he had welcomed twins in November last year with Shivon.
It was revealed the pair had filed court documents requesting the infants’ names be changed to "have their father’s last name and contain their mother’s last name as part of their middle name".
On Thursday Elon tweeted: "Doing my best to help the underpopulation crisis. A collapsing birth rate is the biggest danger civilization faces by far. Mark my words, they are sadly true."
He was congratulated by Nick Cannon, who also is a father of seven. The US star replied: "Right there with you my Brother!"
However, he was met with a wave of anger in the comments section when he later added: "I hope you have big families and congrats to those who already do!"
Many people took to his post to say not everyone is able to have kids even if they want to.
One user responded: "Way to rub it in that my uterus is s***," while another said: "U have no idea how hard it is for lower class to survive living from paycheck to paycheck… can’t do it."
