Donald Trump spells trouble for Mark Zuckerberg and Meta as the GOP leader slams Facebook, labeling it “enemy of the people.”
In an interview with CNBC on Monday, Trump argued that the possible Tiktok ban would only benefit Facebook.
“The thing I don’t like is that without TikTok, you can make Facebook bigger, and I consider Facebook to be an enemy of the people, along with a lot of the media,” Trump told CNBC Monday morning before US markets opened.
As a result of these comments, market shares for Meta Platforms, the owner of Facebook, significantly dropped to 4 percent.
Its shares also dipped by 1.2 percent after Trump posted on Truth Social his opposition to the Tiktok bill,
“If you get rid of TikTok, Facebook and Zuckerschmuck will double their business,” Trump said Friday on Truth Social, referring to Meta CEO Mark Zuckerberg. “I don’t want Facebook, who cheated in the last Election, to do better. They are a true Enemy of the People!”
Gil Luria, an analyst at D.A. Davidson said, “It has everything to do with the comments from former President Trump.”
“Facebook has gone through waves of being dragged into the political debate – and it never bodes well for them.”
Trump, who previously criticized TikTok, reversed his stance last week and expressed opposition to the TikTok ban the Congress is pushing.
Facebook slammed Trump with a two-year ban on its platform following allegations of his involvement in the January 6, 2021, violence. Meta reinstated Trump’s accounts in February 2023.
“I think Facebook has been very dishonest. I think Facebook has been very bad for our country, especially when it comes to elections,” Trump said.
CNBC reminded Trump that during his first term in the White House, he labeled Tiktok as a national security threat.
The Republican nominee stood by his previous statement, saying that the government must protect Americans’ “privacy and data rights.”
“If you look at some of our American companies, they’re not so American,” Trump said. “They deal in which, and if China wants anything from them, they will give it. So that’s a national security risk also,” he said.
“But when I look at it, I’m not looking to make Facebook double the size, and if you ban TikTok, Facebook, and others, but mostly Facebook, will be a big beneficiary.”
Early this week, Tucker Carlson also sounded the alarm on the bill that would ban TikTok, saying that the move isn’t really to restrict TikTok but to control free speech.
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Author: The Raging Patriot
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