Mar-A-Lago (VINnews) — Although his Twitter account has been reinstated by Elon Musk, President Trump may face a big obstacle preventing him from posting tweets.
He could potentially lose millions of dollars if he succumbs to temptation and posts to his over 80 million followers.
Truth Social, a competitor of Twitter launched by Trump, is a privately held property of Trump Media & Technology Group (TMTG)
TMTG is locked into a contract with Digital World Acquisition Corp., a special purpose acquisition company (aka SPAC), which was created to take Trump’s company public.
That makes it very risky for Trump to rejoin Twitter, from a business standpoint.
If Trump’s company were to go public and he devalues Truth Social by resuming his Twitter activities — which could lead to many current followers abandoning the platform and returning to Twitter — shareholders could then sue Trump.
The news could be detrimental to Trump, whose massive following on Twitter would give him a huge opportunity to communicate with voters who may not be on Truth Social, which is more crucial than ever, now that he has announced his candidacy for 2024.
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.”
The deal also allows Trump to use “a personal account” to make posts “related to political messaging, political fundraising or get-out-the-vote efforts on any social media site at any time.”
During a speech to the Republican Jewish Coalition in Las Vegas last weekend, Trump said he saw “a lot of problems at Twitter.”
“I hear we’re getting a big vote to also go back on Twitter. I don’t see it because I don’t see any reason for it,” Trump said.
“It may make it, it may not make it,” he added.