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Former US President Donald Trump reportedly approached SpaceX and Tesla CEO Elon Musk last summer about purchasing his social media platform, Truth Social, according to a report from the Washington Post. Despite discussions between the two influential figures, the proposal did not result in a deal.
The offer was made while Elon Musk was still leading Twitter, now known as X, after acquiring it in late 2022. Trump’s media company, which owns Truth Social, was navigating a lengthy merger process during the time of the meeting.
While details of their recent meeting in Palm Beach, Florida, remain undisclosed, it is suggested that Trump sought campaign contributions for the 2024 US Elections. However, Musk clarified to the Washington Post that he had never visited Mar-a-Lago, Trump’s estate in Palm Beach.
Trump confirmed the meeting with CNBC but expressed uncertainty about whether Musk would endorse him for the presidential race. Musk also stated that he would not be contributing financially to any candidate.
Despite Musk reinstating Trump’s account on his platform in November 2022, Trump has yet to make any posts. Observers speculate that this delay might be due to Trump’s focus on the financial performance of Truth Social, which reportedly suffered significant losses in 2023.
Truth Social, touted as a “free speech” platform, has faced financial challenges since its launch in 2022. Documents filed with the Securities and Exchange Commission revealed substantial losses, with delays in its planned merger further complicating matters. However, the SEC’s approval of the merger last month is seen as a positive development for Trump’s media venture.
Sources By Agencies
