With the news that Elon Musk has succeeded in acquiring Twitter for $44 billion, spare a thought for former President Trump’s Twitter alternative, Truth Social.
The social-media site was launched in February as a digital watering hole for conservatives who feel that Twitter’s rules regarding misinformation, violence and hate speech are too confining — too much like censorship.
But a Musk-owned Twitter could change that.
While no one knows the Tesla CEO’s exact plans for Twitter, many Wall Street analysts assume he’ll seek to expand Twitter’s user base (and potential revenue) by making conservatives feel welcome once more.
That would all but eliminate Truth Social’s reason for being.
Shares of Digital World Acquisition, the empty-shell company intended to take Trump’s venture public, fell Monday as the market focused on Musk’s power play.
Digital World Acquisition is down more than 20% for far this year. Its merger with Truth Social is still in the works.
Trump was banned from Twitter following the Jan. 6 insurrection.
He told Americano Media last month that he “probably wouldn’t have any interest” in rejoining Twitter if Musk took control of the company.
“Twitter’s become very boring,” Trump said. “They’ve gotten rid of a lot of good voices on Twitter, a lot of their conservative voices.”
That could now change.