Former President Donald Trump predicted on Friday that Elon Musk won’t buy Twitter “at such a ridiculous price.”
Trump posted his comments on Truth Social — his microblogging site that was created to rival Twitter — just hours after Musk shocked Wall Street when he tweeted that his $44 billion acquisition of Twitter could be “on hold” pending a review of the variety of bots and spam accounts on the location.
“There isn’t any way Elon Musk goes to purchase Twitter at such a ridiculous price, especially since realizing it’s an organization largely based on BOTS or Spam Accounts,” the forty fifth president wrote.
“Fake anyone?” added Trump, who was banned by the San Francisco-based social media company in addition to other large platforms within the wake of the riots on the US Capitol on Jan. 6, 2021.
Trump, who has vowed to not return to Twitter even when Musk takes control of the corporate, continued: “By the point you eliminate them, if that may even be done, what do you might have? Not much?”
Trump on Friday posted a message on his social media site, Truth Social.Trump’s Truth Social
He added: “If it weren’t for the ridiculous Billion Dollar breakup fee, Elon would have already been long gone.”
Trump then touted his own social media platform, which has been struggling since its launch on account of technical glitches in addition to the departure of top executives.
“Just my opinion, but Truth Social is MUCH higher than Twitter and is completely exploding, incredible engagement!”
Musk, the CEO of Tesla, announced on Friday that the takeover of Twitter was temporarily “on hold.”REUTERS
Musk, who recently pledged to permit Trump back onto Twitter should he assume control of the corporate, insisted in a follow-up tweet early Friday that he was “still committed” to following through on the buyout.
Musk’s pending acquisition of Twitter was welcomed by supporters of Trump who say it can usher in a recent era of unfettered speech.
But a Trump-friendly environment on Twitter could spell bad news for Truth Social, which was specifically created as an alternative choice to the mainstream micro-blogging platform.
Musk on Friday insisted that he was “still committed” to purchasing Twitter.Theo Wargo/WireImage
The announced deal last month between Twitter and Musk apparently jolted Trump into posting on his own site — something that he had avoided doing since its launch.
Musk’s decision to place the Twitter acquisition “on hold” sent shares of Digital World Acquisition Corp., the blank check firm that’s merging with Truth Social, surging by greater than 5% on Friday.
Meanwhile, shares of Twitter were down by greater than 7% at around noon Eastern time on Friday.
Musk has vowed to reinstate Trump’s account if and when he assumes control of Twitter.Rafael Henrique/SOPA Images/LightRocket via Getty Images
Shares of DWAC have been down since Musk announced last month that the Twitter board of directors accepted his buyout offer.
Musk’s tweet on Friday had Wall Street investors speculating that he was either searching for a method to back out of the agreement or was searching for to renegotiate a lower purchase price.
Analysts said Musk could possibly be attempting to rearrange the financing of the deal so he doesn’t need to be counting on leveraged shares of his electric automobile company, Tesla.
Concerns about Musk’s Twitter takeover and a broader tech sell-off have sent Tesla shares plummeting 29% over the past month.