Elon Musk’s offer to buy Twitter on Tuesday raises the possibility that former President Trump’s account may be restored before the upcoming elections.
Musk wrote a letter to Twitter’s executives in which he offered to acquire the company for $54.20 per share, giving it a $44 billion valuation and sending its stock price soaring by as much as 22%.
Twitter declared its management aims to conclude the purchase despite Musk’s prior attempt to void the offer amid a dispute regarding the platform’s genuine number of users. CNBC cited sources saying the deal could close as soon as this coming Friday.
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President Trump Return to Twitter. pic.twitter.com/RSf6KtHl03
— Carrie ❤️ America 🇺🇸 (@FarmGirlCarrie) October 4, 2022
After being banned from Twitter for his suspected involvement in the January 6 riot at the United States Capitol, Musk stated earlier this year he would lift the suspension.
Adding the choice was “morally awful” and reiterating that he would “lift the permanent ban,” Musk said, “I think that was a miscalculation because it estranged a significant section of the country and did not necessarily result in Trump not having a say.”
After the events of January 6, Trump started his own social media site called Truth Social.
The stock of the special-purpose purchase company trying to take Truth Social’s parent business, Trump Media and Technology Group, fell by 5% on Tuesday.
According to reports, the former chief president’s platform had a disappointing launch, but he stated he will not be leaving his site.
Because of his return to mainstream social media, Trump’s possible change of heart could significantly impact the next midterm elections.
According to the BBC’s analysis, as many as 92% of his roughly 200 endorsed contenders won their primaries, but some nominees in battleground states have since tried to distance themselves from Trump.
To all Republicans who are still on Twitter, you’re safe now.
To all Republicans who got cancelled or left Twitter, come back.
To Donald Trump, if you want to win get back on Twitter.
To the DNC, your censorship party is over. You’re finished!
To pink haired Twitter staff, 🖕🏻
— Kim Dotcom (@KimDotcom) October 5, 2022
Musk, who also runs SpaceX and Tesla, said it’s important to encourage people to speak their minds freely on social media.
Musk stated in interviews that he intends to improve Twitter beyond its current state by adding new functionality, rendering the algorithms open source to boost trust, eradicating spam bots, and certifying all users.
He went on to remark the strong negative reaction to free speech by people who are afraid of it is telling in and of itself. The trial over the merger dispute, planned for October 17, was recently postponed after both sides questioned former Twitter CEO Jack Dorsey.
Dorsey, a Musk acquaintance for years, said the billionaire’s goal to “expand the light of consciousness” is the “single solution” to the problems facing Twitter.
Musk argued the enhanced focus on free speech would not give users carte blanche to post “anything illegal or damaging to the world.” He added that permanent bans “should be incredibly unusual and basically reserved for accounts that are bots, or fraudulent, spam accounts.”
Twitter shareholders overwhelmingly approved the merger, with Musk’s 9.6 percent stake making him the largest individual shareholder. Twitter’s second-quarter losses per share were $0.08, which was below the $0.14 gain per share forecast by market experts.