Former President Donald Trump, who said there is “no way” Elon Musk would purchase Twitter, is right once again, as Musk pulled out of the Twitter buyout deal on Friday.
Musk’s move comes after he and Trump had a battle of back-and-forth statements regarding the fate of Twitter.
In May, Trump posted on his TRUTH Social platform:
There is no way Elon Musk is going to buy Twitter at such a ridiculous price, especially since realizing it is a company largely based on BOTS or Spam Accounts. Fake anyone? By the time you get rid of them, if that can even be done, what do you have? Not much? If it weren’t for the ridiculous Billion Dollar breakup fee, Elon would have already been long gone. Just my opinion, but Truth Social is MUCH better than Twitter and is absolutely exploding, incredible engagement!
It seems that Musk listened to the former President and took his advice as he declared his intention to pull out of the proposed $44 billion takeover of Twitter on Friday.
After reports of Musk’s attempt to purchase Twitter were announced, Trump declared his intention to stay on TRUTH Social after being permanently banned on Twitter in the aftermath of the January 6 Capitol Riots.
“I am not going on Twitter, I am going to stay on TRUTH. 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,” Trump said.
Even though Musk pledged to reinstate Trump’s account if he became CEO of the company, shortly after Trump’s comments about staying on TRUTH, Elon took to Twitter to mock Trump’s platform, saying it has a “terrible name” and should be called Trumpet instead!”
Trump also characterized the Musk/Twitter takeover deal as “a probably illegal purchase of a crummy phony account loaded company, Fake Twitter.”
Musk pulled out of the deal due to Twitter’s alleged failure to provide accurate information about the amount of bot and spam accounts on the platform, according to Musk’s lawyers. Twitter’s board has announced their intention to sue Musk to enforce the merger agreement.
The Twitter Board is committed to closing the transaction on the price and terms agreed upon with Mr. Musk and plans to pursue legal action to enforce the merger agreement. We are confident we will prevail in the Delaware Court of Chancery.
— Bret Taylor (@btaylor) July 8, 2022