Elon Musk Intends to Reverse Twitter Ban on Donald Trump after Successful Acquisition

Elon Musk, the world’s richest man, has declared his plan to lift the Twitter Inc (NASDAQ: TWTR) ban on former US President Donald Trump if his acquisition is successful. Elon Musk, who has made an offer to buy Twitter, has hinted at his plans for the social networking service provider on several occasions. He has also clarified his desire to own Twitter for monetary gains. Musk previously stated on Twitter his intentions to combat cryptocurrency scams. Furthermore, he is considering adding an edit button on Twitter which would only be available for a limited time after a Tweet goes live. 

Elon Musk Is Lifting Twitter Ban on Donald Trump

Elon Musk recently stated that he would lift the Twitter ban imposed on Donald Trump in January 2021. The billionaire discussed how permanent bans should work at FT Live’s Future of the Car conference. Permanent bans, in his opinion, should be “extremely rare.” He also suggested that indefinite bans be reserved for spam and bot accounts. Elon Musk described Twitter’s ban on Donald Trump as an error.

“I think that was a mistake, because it alienated a large part of the country and did not ultimately result in Donald Trump not having a voice. I would reverse the permanent ban. I don’t own Twitter yet. So this is not like a thing that will definitely happen, because what if I don’t own Twitter?” explained he.

In January of last year, Twitter permanently suspended Donald Trump from using its platform after his supporters attacked the US Capitol. Following the January 6th riot, management decided to suspend the then-president indefinitely, according to Twitter. The reason given by the company was to avoid the “risk of further incitement of violence.”

Donald Trump Says He Is Not Returning to Twitter

Musk’s recent remark about lifting the ban on Trump supports his earlier call for free speech on the social networking platform. Meanwhile, Donald Trump said last month that he would not be returning to Twitter even if Elon Musk revoked the ban. He described his position the following way:

“I will be on Truth Social within the week. Its on schedule. We have a lot of people signed up. I like Elon Musk. I like him a lot. He’s an excellent individual. We did a lot for Twitter when I was in the White House. I was disappointed by the way I was treated by Twitter. I won’t be going back on Twitter.”

Twitter stock is currently trading at $47.03, down 0.47%. The company has been seeing mixed performance over the past year. TWTR has lost nearly 11% in the last twelve months and declined 3.29% in the last five days. However, the social network company grew 9.35% in its year-to-date record and advanced more than 31% in the last three months. Over the past month, Twitter stock has increased 6.25%. 

Cryptocurrency news, Deals News, Editor’s Choice, Investors News, Market News