Donald Trump's social media platform Truth Social reported a loss of $58 million in 2023 days after it's stock market debut.
made to the U.S. Securities and Exchange Commission, Truth Social reported a net loss of $58,189,200 in 2023, alongside a more than $50 million loss in 2022. The company brought in only about $5.4 million in gross profit over the two-year period. The firm generated just $4.1 million revenue for all of 2023, while racking up $58 million in net losses.following the merger of Trump Media & Technology Group with its blank check funding partner Digital World Acquisition Corp.
Trump will not be allowed to sell his shares in the company for at least six months, but the valuation of Truth Social could become a key financial lifeline in his struggle to pay off a mountain of legal expenses related to various civil and criminal court cases. Despite the initial — on paper — success of the merger, Truth Social’s financial struggles have been public for some time now. The company has consistently reported more debts than revenue, andof the Securities and Exchange Commission.
Whether or not Truth Social survives long term, it is currently the primary platform through which Trump communicates with his followers. The website, which is dominated by right-wing accounts, serves as a public diary for the former president, who regularly posts long-winded rants and ravings about his political opponents and perceived enemies.
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What is Truth Social, Donald Trump's social media platform?Former President Donald Trump launched his social media platform, Truth Social, in early 2022, after he was banned from major sites such as Facebook and the former Twitter following the Jan. 6 insurrection.
Baca lebih lajut »
What is Truth Social, Donald Trump's social media platform?Former President Donald Trump launched his social media platform, Truth Social, in early 2022, after he was banned from major sites such as Facebook and the former Twitter following the Jan. 6 insurrection.
Baca lebih lajut »
What is Truth Social, Donald Trump's social media platform?Former President Donald Trump launched his social media platform, Truth Social, in early 2022, after he was banned from major sites such as Facebook and the former Twitter following the Jan. 6 insurrection.
Baca lebih lajut »