Elon Musk’s renewed efforts to buy Twitter could pave the way for President Donald Trump‘s return to the platform that permanently banned him a year earlier.
If Musk follows through on the deal — and if he stands by his prior plan to reverse Trump’s ban — the Republican ex-president could potentially resume tweeting in time to make an impact on the November midterm elections.
The Tesla and SpaceX CEO, who offered to buy Twitter for $54.20 a share in April but then tried to scrap the deal, this week signaled through a regulatory filing that he once again wants to proceed with the original transaction. News of the deal, which is still not finalized, sent Twitter’s stock soaring.
Before getting cold feet on the deal over the summer, Musk said he planned to lift Trump’s Twitter ban if he took over the company. “I do think it was not correct to ban Donald Trump,” Musk said in May.
Twitter had shut down Trump’s account in the wake of the Jan. 6, 2021, Capitol riot, when a violent mob of Trump’s supporters, spurred by his false claims of a rigged election, stormed the U.S. Capitol and forced lawmakers to flee their chambers for safety.
Trump, who now posts on a similar platform he backed called Truth Social, has said he won’t return to Twitter even if he is allowed back on. “I was disappointed by the way I was treated by Twitter. I won’t be going back on Twitter,” Trump told CNBC in April.
But with Musk’s $44 billion Twitter buyout now back on the table, some believe Trump won’t be able to resist the allure of regaining an account that boasted nearly 90 million followers at its peak.
“Of course he will” return to Twitter if he can, Democratic strategist Kurt Bardella said of Trump.
The former president is “a Twitter addict” who “loves the instant gratification” it offers, Bardella said, while noting that Truth Social has so far failed to garner a similar level of user engagement.
Trump’s Truth Social account, created in February, currently has 4.15 million followers.
Twitter’s suspension of Trump “took away his megaphone,” said Jonathan Nagler, co-director of NYU’s Center for Social Media and Politics and a professor of politics. The tech giant’s move “lessened his ability to push bogus election fraud claims” and “incite action against election officials,” he said.
“Truth Social, as far as anyone can tell, has had nowhere near the impact or reach that his Twitter account has had,” Nagler said.
Spokespeople for Trump, Musk, Twitter and Trump’s company behind Truth Social did not immediately respond to CNBC’s requests for comment.
Musk has not yet reiterated that he will lift Trump’s Twitter ban if the latest buyout plans come to fruition. With sources telling CNBC that a deal could happen as soon as Friday, it’s possible Trump could be allowed to resume tweeting before the Nov. 8 midterm elections.
If so, Trump’s frequent musings about the midterms could soon be back on Twitter, reaching an audience that was once more than 20 times the size of his Truth Social following.
What’s more, Twitter is used much more heavily by most media organizations and politicians, both in the U.S. and around the world. But Nagler warned Trump may not want to be “100% beholden to Musk, the world’s richest man,” as his social media enabler.
“Elon Musk could change his mind as well,” Nagler said. “We’re trying to predict the behavior of two people, both of who seem quite agile in their ability to shift what they plan to do.”
Still, Nagler said, Trump is likely to rejoin Twitter if given a chance. “That would be my guess,” he said. “At the end of the day, Trump likes to be heard … my guess is that would win out.”
Some of Trump’s conservative fans cheered the news that Musk was once again pushing to buy Twitter. But not everyone is so sure it will benefit his allies.
“I think it’s going to cut both ways,” Nagler said. Trump’s tweets could possibly mobilize parts of his base to turn out to the polls, but “his increased visibility could be a reminder to moderates of why they do not want Republicans in office,” the professor said.
Bardella argued that Republican candidates have struggled “every time that Donald Trump has been the center of attention.”
He pointed to the 2018 midterms and the more recent Georgia special elections, which led to Democrats clinching a slim Senate majority. Virginia Gov. Glenn Youngkin, meanwhile, unseated a Democrat in a blue-leaning state by keeping Trump at arm’s length during the general election, Bardella said.
“The last thing that Mitch McConnell and Kevin McCarthy want the elections to be is a referendum on Donald Trump,” Bardella said. “Republicans have made it very clear, they want the conversation heading into the midterms to be about the economy, inflation and crime. They don’t want it to be about Donald Trump.”
Musk’s comments about the need for Twitter to be “politically neutral,” and his recently revealed correspondence with people pushing him to fight “woke-ism” and censorship on the platform, could also indicate how the site might change the way it previously handled Trump’s tweets.
During the 2020 election, Twitter tried to combat misinformation by labeling certain accounts’ tweets with warnings and providing links with credible election information. Trump’s tweets were tagged multiple times, as the then-president regularly amplified a wide variety of conspiratorial claims that his reelection chances were being threatened by rampant election fraud.
File: The Amazon distribution center in Garner, N.C. opened in August 2020. Across four floors, the warehouse covers 2 million square feet.
Scott Sharpe | Tribune News Service | Getty Images
Amazon workers at a facility near Raleigh, North Carolina, overwhelmingly voted against unionizing on Saturday.
Of the 3,276 ballots cast, there were 2,447 votes opposing the union and 829 in favor, according to the National Labor Relations Board. There were 77 challenged ballots, a gap that’s too narrow to change the outcome of the election. The results still need to be certified by the NLRB.
The election at the facility, named RDU1 and located in the suburb of Garner, came after organizers with the upstart Carolina Amazonians United for Solidarity and Empowerment (CAUSE) campaigned at the warehouse for the past three years. The facility employs roughly 4,700 workers.
CAUSE said in a statement that the election results were a “result of Amazon’s willingness to break the law.”
“Amazon’s relentless and illegal efforts to intimidate us prove that this company is afraid of workers coming together to claim our power,” the group said. “Amazon may think it is above the law, but we will not accept a system that allows billionaires and corporations to play by a different set of rules.”
Amazon spokeswoman Eileen Hards denied that the company broke the law or interfered with the election.
“We’re glad that our team in Garner was able to have their voices heard, and that they chose to keep a direct relationship with Amazon,” Hards said in a statement. “We look forward to continuing to make this a great place to work together, and to supporting our teammates as they build their futures with us.”
Amazon, the nation’s second-largest private employer, has long sought to keep unions out of its ranks. The strategy succeeded in the U.S. until 2022, when workers at a Staten Island warehouse voted to join the Amazon Labor Union. Last month, workers at a Whole Foods store in Philadelphia voted to join the United Food and Commercial Workers union.
Amazon responded to the Garner union drive with a barrage of anti-union messages in the warehouse, on a website, and sent through its AtoZ app to employees. A leader of the warehouse urged employees to “vote no,” saying a union “can get in the way of how we work together.” The company described CAUSE as an “outside party” that’s “claiming to be a union.”
Amazon has previously said its employees can choose whether or not to join a union, and that it speaks “openly, candidly and respectfully about these topics” so that they can “make an informed decision.”
CAUSE was founded in 2022 by RDU1 employees Mary Hill and Rev. Ryan Brown to voice concerns about the company’s response to the Covid pandemic, which they viewed as inadequate. The group sought to organize RDU1 to boost wages and secure longer breaks.
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Starting pay at RDU1 is $18.50 an hour. CAUSE has pushed to negotiate for wages of $30 an hour.
In its statement on Saturday, CAUSE said it intended to continue organizing at RDU1 “because over half of Amazon employees are still struggling with food and housing insecurity.”
Labor groups have looked beyond NLRB elections in an attempt to gain a union foothold at Amazon. They’ve assisted employees with filing unfair labor practice charges with the NLRB against Amazon, accusing the company of violating labor laws.
The International Brotherhood of Teamsters helped coordinate a picket effort at nine Amazon facilities in December. Amazon said the walkout had no impact on its operations.
The Teamsters union has said it represents 9,000 Amazon workers around the country, although the company has refused to recognize the union and bargain with leadership.
Unions have enjoyed increasing support across the country, with 67% of Americans saying they approve of labor unions, according to Gallup. But that hasn’t translated into higher membership rates. Union membership in the private sector declined slightly to 5.9% in 2024, according to the Bureau of Labor Statistics.
North Carolina had the lowest union membership rate in the country last year, with only 2.4% of workers in the state represented, according to the BLS.
U.S. President Donald Trump signs an executive order establishing the Energy Dominance Council led by Secretary of the Interior Doug Burgum in the Oval Office at the White House on February 14, 2025 in Washington, DC. President Trump signed a second executive order withholding federal funding from schools and universities that impose a COVID-19 vaccine mandate.
Andrew Harnik | Getty Images News | Getty Images
Trump Media & Technology Group shares were down about 1% in extended trading on Friday after the operator of Truth Social released its 2024 results.
Here’s how the company performed:
Earnings: Loss of $2.36 per share
Revenue: $3.6 million
The company’s revenue declined 12% year over year, according to its annual report. The company saw its net loss widen to $400.9 million from $58.2 million in 2023.
Trump Media debuted on Nasdaq under the ticker “DJT” last March, completing its merger with Digital World Acquisition Corp. The stock nearly doubled in value in 2024, with its namesake, Donald Trump, winning the U.S. presidential election in November. As of Friday’s close, the stock was down about 11% year to date giving it a market capitalization of $6.59 billion.
In 2024, Trump Media incurred merger-related legal fees because of obstruction from former President Biden’s Securities and Exchange Commission, according to a statement. A change to a revenue-sharing agreement with an advertising partner resulted in lower sales. “Additionally, revenue has varied as we selectively test a nascent advertising initiative on our Truth Social platform,” the company said in the annual report.
Unlike Meta and other social media companies, Trump Media management said in the filing they do not believe in using traditional metrics such as the number of active users or average revenue per user. Doing so “could potentially divert its focus from strategic evaluation with respect to the progress and growth of its business,” according to the filing.
In the fourth quarter, Trump Media announced the availability of its Truth+ video streaming service on Android, iOS and the web.
The company has not held an earnings call since the merger.
As of Friday, a trust where President Trump is the sole beneficiary owns 52% of the voting power of the company’s stock, the filing states.
Trump publishes posts on Truth Social, where he has 8.9 million followers. On X, owned by Tesla CEO Elon Musk, who has been helping with the Trump administration’s Department of Government Efficiency, Trump has 100.9 million followers.
Trump Media now has $776.8 million in cash, cash equivalents and short-term investments, with $9.6 million in debt.
“We will continue to explore opportunities to partner, merge with, and acquire other entities that are able to function effectively if TMTG evolves into a holding company with subsidiaries spanning several industries,” Chairman and CEO Devin Nunes, a former Republican Congressman was quoted as saying in the statement.
Chief Executive Officer of SpaceX and Tesla and owner of Twitter, Elon Musk attends the Viva Technology conference dedicated to innovation and startups at the Porte de Versailles exhibition centre on June 16, 2023 in Paris, France.
Chesnot | Getty Images
Dell shares rose 4% on Friday following a report from Bloomberg that Elon Musk’s startup xAI was preparing an agreement to buy $5 billion in artificial intelligence servers from the hardware maker.
The equipment containing Nvidia‘s GB200 graphics processing units (GPUs) would be delivered this year, according to Bloomberg, which cited unnamed sources.
Many data center gear manufacturers have been seeing growth from selling boxes for training and running AI models. Dell said in November that it had $3.6 billion in quarterly AI server order demand. Dell’s total revenue for the latest quarter totaled $24.37 billion, up 10% year over year.
In December, xAI announced a $6 billion funding round. CNBC reported that the Musk startup, which competes with OpenAI, was raising the money to purchase GPUs. The Grok assistant from xAI is available for people to use on X, which is also owned by Musk.
Musk has been building out xAI’s facility in Memphis, Tennessee.
Dell declined to comment. xAI didn’t immediately respond to a request for comment.