Former US President Donald Trump asked Elon Musk to buy Truth Social: Report
By Team Asianet Newsable | First Published Mar 13, 2024, 2:29 PM ISTFormer United States President Donald Trump approached SpaceX and Tesla CEO Elon Musk last summer with an offer to buy his social networking platform Truth Social, according to a report in the Washington Post.
Former United States President Donald Trump approached SpaceX and Tesla CEO Elon Musk last summer with an offer to buy his social networking platform Truth Social, according to a report in the Washington Post. However, the proposal ultimately did not result in a deal.
The report, citing two unnamed sources, revealed that Trump made the offer while Musk was still in charge of Twitter, which was rebranded as X after being acquired by him in late 2022.
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It further disclosed that Trump and Musk have had more discussions about politics and business than previously known. Despite their conversations, the former president's suggestion for Musk to acquire Truth Social did not materialize into an agreement.
At the time of their meeting last summer, Trump's media company, which includes Truth Social, was caught in a lengthy merger process.
Elon Musk, along with unspecified affluent Republican donors, recently convened with Trump in Palm Beach, Florida, earlier this month, as reported by the New York Times.
While the precise agenda of the gathering remains undisclosed, it was indicated that Trump was seeking potential campaign contributors for his potential bid in the 2024 US Elections.
Contrary to discussions surrounding the Truth Social deal and campaign matters, Elon Musk informed the Washington Post that he had "never been to Mar-a-Lago," Donald Trump's estate in Palm Beach.
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Trump, in an interview with CNBC, acknowledged the meeting but expressed uncertainty regarding whether the billionaire would offer his endorsement.
"I don't know. I've been friendly with him over the years. I've helped him; when I was president I, helped him. I've liked him. We obviously have opposing views on a minor subject called electric cars," he said.
The second-wealthiest individual stated on his microblogging platform X that he would refrain from donating money to any candidate for the upcoming elections. "Just to be super clear, I am not donating money to either candidate for US President," Musk wrote on March 6.
Shannon Devine, a spokeswoman for Trump Media & Technology Group, in a statement, told the outlet, "We heard Trump and Musk were actually discussing buying the Washington Post but they decided it had no value."
Despite Elon Musk reinstating Trump's account on his platform in November 2022, the former president has yet to make any posts. Speculation from individuals close to him suggests that one reason could be the financial importance of his Truth Social site, which he reportedly monitors closely.
Meanwhile, since its launch in 2022, Trump's "free speech" platform has encountered significant financial hurdles. Truth Social reported losses totaling tens of millions of dollars last year, according to documents submitted to the Securities and Exchange Commission in November. The company has also faced numerous delays in its planned merger with the acquisition firm Digital World Acquisition Corp. However, the SEC approved the agreement last month, marking a notable success for Trump.
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