But to Truth Social CEO Devin Nunes and Chairman Donald Trump—the deal doesn't matter that much.
They both supported Musk's purchase because it fits their mission to mitigate censorship and "give the American people their voice back," Nunes told The Epoch Times.
"In terms of Twitter, it's never been—as I think Elon Musk has found out—it's just a global PR wire, it's not a social networking site."
Nunes thinks that Musk realized "he couldn't validate how many real Americans and others were actually on the platform, because there's so many bot and spam accounts."
At a May 14 rally in Texas, Trump predicted Musk would not end up buying Twitter "Because you have so many fake accounts with the bots."
"I see that ending up in a lot of litigation,” Trump said.
Trump was able to anticipate this because Twitter is "just a house of cards," Nunes said.
"There's just not a real market there. ... You don't want to go where you have a few million Americans every day going on to Twitter—it's hard to know what the number is—compared to hundreds of millions of Americans, that's where the market is," he added.
During a speech in Alaska on July 9, while promoting Truth Social, Trump said about Musk:
"He’s got himself a mess. You know, he said the other day, ‘I’ve never voted for a Republican.’ I said I didn’t know that. He told me he voted for me. So he’s another [expletive] artist, but he’s not going to be buying it. Although he might later, who the hell knows what’s going to happen? He’s got a pretty rotten contract. I looked at his contract, not a good contract."
Musk said during a podcast at a Miami tech conference in May that he had voted "overwhelmingly" for Democrats in the past.
"Overwhelmingly. Like I'm not sure, I might never have voted for a Republican, just to be clear," Musk said on the show. "Now this election, I will."
The Epoch Times reached out to Twitter for comment.