The Washington Post revealed on Tuesday that former President Donald Trump offered Elon Musk a cash-losing social media network sale last summer.
Truth Social was bogged down in a protracted and unfinished merger process with Digital World Acquisition Corp, which was meant to take it public, when the presumed Republican presidential nominee floated the notion of selling it to Musk.
According to site traffic tracker SimilarWeb, Truth Social receives roughly 1.5 million unique monthly visits; it's unclear if Trump placed a price tag on the platform during the meeting.
Musk, who rebranded Twitter to X after purchasing it for $44 billion in October 2022, reportedly declined the offer. However, the report states that he did not refute the fact that the conversation happened. The entrepreneur, who is also the CEO of Tesla and SpaceX, instead admitted to the Post that he had "never been to Mar-a-Lago," Trump's Palm Beach, Florida resort.
Several stories claim that he did, in fact, meet Trump and a number of influential donors earlier this month in the same city. Musk has supported Republican candidates for office, but he also declared last week that he is not financing any campaigns for the White House.
“Just to be super clear, I am not donating money to either candidate for US President,” he said.
The company that owns Truth Social, Trump Media & Technology Group, declined to comment when asked about a potential sale to Musk. In a move that is good for the business, Digital World Acquisition filed a regulatory filing on Monday stating that the most recent lawsuit that was impeding the two firms' merger has been settled and that shareholders will vote on the agreement with Truth Social on March 22.
In addition to giving the cash-strapped Trump Media roughly $300 million, if shareholders approve the acquisition, Trump's net worth would increase by more than $3 billion based on the current price of Digital World's stock, according to the New York Times.
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