has gloated about ending his efforts to buy , writing: ‘THE TWITTER DEAL IS DEAD, LONG LIVE THE “TRUTH”.’
The former president shared his thoughts on his own rival social network Truth Social Friday evening, shortly after it emerged that Musk, 51, had withdrawn a $44 billion bid.
Trump’s post was liked close to 37,000 times, sportsbook software and shared more than 9,000 times on Truth, where Trump has 3.5 million followers.
He set up the Twitter look-a-like after being banned by former Twitter CEO in January 2020, days after the Capitol riots.
Truth Social boasts an estimated two million active users, compared to the 300 million who’ve signed up to Twitter.
On Friday Musk, who is the world’s richest man, announced he was ending his bid to buy Twitter at $54.20-a-share, prompting a furious response from the firm’s bosses, who say they’ll sue to force through the deal.
Musk accused Twitter bosses of refusing to hand over details about the number of fake users on its site, in a letter announcing that he was reneging on the deal.
The billionaire blasted the social media giant for refusing to ‘comply with its contractual obligations’ throughout the acquisition process.
Donald Trump gloated about Elon Musk withdrawing his bid to buy Twitter on his rival social media network Truth Social Friday
Musk, pictured at the Met Gala in May, announced he was terminating his bid to buy Twitter on Friday after claiming Twitter is in breach of an agreement they’d reached
He also claimed the company had failed to operate normally over the past two months as it froze its hiring process and fired senior staff.
Twitter shares closed at $36.81 on Friday after Musk moved to back out of the deal, sparking speculation the Tesla owner is still trying to acquire the firm – but for a far lower price than he previously offered.
Musk is expected to speak at the so-called Billionaires’ Summer Camp at Sun Valley, Utah, on Saturday.
Twitter CEO Parag Agrawal is also at the tycoons’ summit, although it remains unclear if the two men have met.
In a letter to the Securities and Exchange Commission announcing Musk was ending his bid for Twitter, Skadden Arps attorney Mike Ringler – acting for Musk – said Twitter were in material breach of multiple provisions of the agreement.
Ringler wrote: ‘Mr Musk is terminating the Merger Agreement because Twitter is in material breach of multiple provisions of that Agreement, appears to have made false and misleading representations upon which Mr.Musk relied when entering into the Merger Agreement, and is likely to suffer a Company Material Adverse Effect.
‘While Section 6.4 of the Merger Agreement requires Twitter to provide Mr. Musk and his advisors all data and information that Mr.Musk requests ‘for any reasonable business purpose related to the consummation of the transaction,’ Twitter has not complied with its contractual obligations.
‘For nearly two months, Mr. Musk has sought the data and information necessary to ‘make an independent assessment of the prevalence of fake or spam accounts on Twitter’s platform’.