According to reports, outsiders have always speculated that billionaire Musk, one of Trump's biggest supporters, may buy his social media company Trump Media Technology Group from the Republican presidential candidate.
The Zhitong Finance App learned that according to reports, there has been speculation from the outside world that billionaire Musk, one of Trump's biggest supporters, may buy his social media company Trump Media Technology Group (DJT.US) from the Republican presidential candidate.
According to a report on Friday, people within the Trump camp have been “speculating” for weeks that his social media platform will at some point be taken over by Musk and his social media platform X.
The report said, “But there are definitely rumors surrounding the Trump Tower, including people hanging out at the Sea-Lake Estate, that Musk is watching some kind of merger between Trump Media Technology Group and X.”
The author of the report was unable to confirm this speculation.
According to information, as early as March of this year, there were reports that Trump asked Musk last summer if he was interested in buying Trump Media Technology Group.
However, in September, Trump said in an interview that he would not sell his shares in Trump Media Technology Group because its holding company's stock price was sluggish after his debate with Democratic presidential candidate Harris.
United Atlantic Ventures (United Atlantic Ventures), which holds 7.525 million shares (5.5%) of Trump Media Technology Group, sold its shares at the end of September. The former president currently owns 56% of the company's shares.
By Friday's close, Trump Media Technology Group shares were down 13.53%. Over the past three months, the share price has risen 30%, compared to the S&P 500, which is only 4.8% higher.