Trump Tried To Get Elon Musk To Buy Truth Social: New Report Highlights Former President's Pitch
Portfolio Pulse from Chris Katje
Former President Donald Trump reportedly attempted to sell Truth Social to Elon Musk, owner of X (formerly Twitter), but failed. The conversation did not lead to a deal, but they have remained in contact. Trump also sought campaign donations from Musk for the 2024 election and invited him to speak at the GOP convention, which Musk declined. The report emerges as the SPAC merger between Digital World Acquisition Corp (DWAC) and Truth Social's parent company, Trump Media & Technology Group (TMTG), faces delays and litigation. Trump, facing significant legal fees and penalties, views TMTG as a financial lifeline. Musk, having bought Twitter and rebranded it to X, has criticized Truth Social and is seen as a competitor.
March 12, 2024 | 3:45 pm
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Digital World Acquisition Corp (DWAC) faces uncertainty as the SPAC merger with Trump Media & Technology Group (TMTG) stalls amid litigation and Trump's financial challenges. Shares have seen volatility, with a significant increase over the last year but a recent decline.
The stalled SPAC merger between DWAC and TMTG, combined with ongoing litigation and Trump's financial challenges, creates uncertainty for DWAC's future prospects. This situation likely contributes to recent volatility in DWAC's stock price, with potential negative short-term impacts as investors assess the risks associated with these developments.
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IMPORTANCE 80
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