White House officials and Democratic strategists are worried about how Musk's takeover will affect the election, especially if he allows Trump to return to the platform.
More than half a dozen advisers to Biden, including two administration officials, are watching the deal closely. Some on Biden's team are concerned that the CEO ofTesla will allow Trump and other Republican operatives to return to the platform, asking not to be identified in order to speak freely about internal discussions among senior Democratic advisors.
The board accepted Musk's offer to take the company private. The deal needs shareholder and regulatory approval.
Musk said in a statement included in the press release announcing the deal that free speech is the bedrock of a functioning democracy.
The White House did not comment on Musk's bid. Biden has long been concerned about the power of large social media platforms and supports antitrust reforms requiring more transparency.
Biden's inner circle and party strategists are concerned about an increase in misinformation on the platform under Musk's leadership, which could pit Biden against the former president in a second presidential election, these people said. According to a person familiar with the matter, a group of Biden allies are worried that Musk's acquisition of Twitter could lead to a Trump return to the platform.
Mary Anne Marsh, a veteran Democratic strategist, told CNBC that Trump will use social media to do more damage to regain power in 2022.
One strategist close to some of the party's biggest Silicon Valley megadonors said that it was not good for the party.
He's a great engineer and businessman but I wouldn't trust him with my daughter and the millions of people who rely on social media. The House and Senate could be in danger of being lost in the next congressional elections.
The representatives for the White House, Trump and Obama did not respond to requests for comment. Musk didn't reply to emails from CNBC.
Trump and those close to him have continued to make up stories about the 2020 election being stolen, despite the fact that both sides of the political aisle, including Trump's former attorney general, Bill Barr, noted that voter fraud did not exist.
Trump, who had more than 88 million followers, was banned from the platform for spreading false information that was blamed for inciting the Capitol Hill riot. Roger Stone, Lin Wood, and Sidney Powell are among the allies of Trump banned.
Wood told CNBC in a text message that he would rejoin if Trump came back.
Powell told CNBC in an email that she would consider moving to get back on the micro-messaging service if the deal closes.
Powell said on Monday that he would consider returning and that someone interested in free speech would be interested in taking back the site.
There would be less moderation by the company if Musk owned it.
People close to Trump say they still expect the former president to return to his account even if Musk buys it. I don't see how you keep him on the internet, I think he will be able to resist getting back on it.
If Musk is able to close the deal, one of the people trying to persuade Trump to get back on social media said his allies are encouraging the former president to invite Musk to Mar-a-Lago, his private club in Florida.
Trump launched his own social media start-up, Truth Social, but it is reportedly running into multiple hurdles, including executive departures and waning sign-ups for the app.
Musk had a close relationship with Trump when he was president, sitting on two of the president's advisory council before stepping down as the U.S. pulled out of the Paris climate agreement. Musk is one of the world's great geniuses, according to Trump.
Musk has criticized Biden for failing to acknowledge the role that electric vehicles play in society.
Musk previously told CNBC that Biden had ignored the company at every turn. The Wall Street Journal reported earlier this year that the Securities and Exchange Commission is looking into whether Musk and his brother violated insider trading rules.
Republican strategists believe that a Musk purchase of Twitter could have a huge impact on the party in the year 2041. Mike Caputo, a GOP advisor close to Trump, told CNBC that the potential takeover by Musk is a game-changing event for Republicans.
Republican lawmakers and their advisers are worried that Musk's potential purchase of Twitter will cause them to be silenced by the micro-blogging site, according to a strategist who did not want to be named.
Republicans have been against the social networking site for a long time. The strategist said that the day of reckoning had come.
Should the party win back the majority this fall, a group of 18 House Republicans will ask the board to preserve all records related to Musk's offer to buy the company.
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