Now that billionaire Elon Musk has acquired Twitter, former President Donald Trump has had his account reinstated. However, if Trump decides to start using Twitter again, he could devalue his own social media platform, Truth Social, and ultimately lose millions of dollars.
On Friday, Musk tweeted out a poll asking whether or not he should reinstate Trump on Twitter. This poll got over 15 million votes, and 51.8% of respondents voted ‘yes.’
Musk then tweeted, “The people have spoken. Trump will be reinstated.” He added, “Vox Populi, Vox Dei,” meaning “the voice of the people is the voice of God.”
The people have spoken.
Trump will be reinstated.
Vox Populi, Vox Dei. https://t.co/jmkhFuyfkv
— Elon Musk (@elonmusk) November 20, 2022
Trump’s Twitter account has since been reactivated, however, the former president has yet to post anything on the platform.
Since being reinstated, Trump continues to post on his own social media platform, Truth Social, instead of Twitter. In response to Musk’s poll on Twitter, Trump posted on his platform, telling his followers, “[D]on’t worry, we aren’t going anywhere. Truth Social is special!”
Truth Social is owned by the Trump Media & Technology Group (TMTG), which has an agreement with Digital World Acquisition Corp., a special purpose acquisition company (SPAC) that was created to take Trump’s company public.
If Trump was to return to Twitter, the primary reason for those who continue to use Truth Social would be eliminated, and millions of users would likely return to Twitter as well. This could lead to the company’s shareholders suing Trump.
Columbia Law School professor Eric Talley weighed in on the potential outcome of Trump returning to his Twitter account, saying, “If it’s going to look, later on, that he never had that intention [of remaining off Twitter] but he just wanted to convince people that they should go ahead and close [the SPAC deal] that’s kind of a textbook securities fraud lawsuit.”
There is a possibility that Trump could return to using his Twitter account, but he must continue prioritizing his own platform. For example, according to an SEC filing by TMTG, Trump “is generally obligated to make any social media post on TruthSocial and may not make the same post on another social media site for 6 hours.”