| Welcome to Global Village Space

Thursday, February 15, 2024

Will Trump return to Twitter as Elon Musk buys it?

Trump created his own social media platform because he was banned on mainstream social media websites.

US former president Donald Trump said on Monday that he will not return to Twitter even if Tesla CEO Elon Musk’s bid to buy the social media website is successful.

“I am not going on Twitter, I am going to stay on Truth,” Trump told Fox News, referring to the social media company Trump founded after being banned from successive websites over the Jan. 6 Capitol riot. “I hope Elon buys Twitter because he’ll make improvements to it and he is a good man, but I am going to be staying on Truth.”

The comments come as Twitter announced Monday afternoon that it has accepted Musk’s $44 billion offer.

The social media company said in a statement that it has entered into a definitive agreement to be acquired by an entity wholly owned by Musk, in which Twitter stockholders will receive $54.20 in cash for each common stock they own.

“The purchase price represents a 38% premium to Twitter’s closing stock price on April 1, 2022, which was the last trading day before Mr. Musk disclosed his approximately 9% stake in Twitter,” the statement said.

Read more: Elon Musk offers to buy Twitter for $43b

Twitter will become a privately held company after the deal is closed. Musk has vowed to make Twitter a haven for free speech if his offer goes through.

Trading of Twitter shares were briefly halted in the S&P 500 on the New York Stock Exchange during mid-day session amid a pending purchase agreement.

The announcement came after Twitter’s Board of Directors met Sunday to discuss Musk’s offer.

Trump was banned from Twitter on Jan. 8, 2021, two days after the ex-president’s supporters stormed the US Capitol in an failed attempt to prevent US President Joe Biden’s inauguration. Twitter said it took the exceptionally rare action of banning an elected official “due to the risk of further incitement of violence.”

Read more: Twitter, Facebook block Trump over Capitol attack posts

Trump is also banned from Facebook, Instagram and Snapchat for similar reasons.

Anadolu with additional input by GVS News Desk