Trump’s Truth Social has lost $73 million in less than 2 years, new filing says
by Olafimihan Oshin - 11/13/23 8:30 PM ET
Former President Trump’s social media platform, Truth Social, has lost $73 million in net sales since the platform’s official launch in February 2022, according to a new financial disclosure filing from Digital World Acquisition Corp. (DWAC).
Digital World is a merger partner with Trump Media & Technology Group (TMTG). Trump owns a stake in Truth Social that was last valued at between $5 million and $25 million.
The form shows that Truth Social lost $50 million on just $1.4 million of net sales in 2022 and another $23 million within the first six months of this year, according to the filing, which was first reported by The Hollywood Reporter.
If TMTG is unable to complete its merger with DWAC and receive more funds, the company may not survive, according to the filing.
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https://thehill.com/homenews/media/4308023-trumps-truth-social-has-lost-73-million-in-less-than-two-years-new-filing-says/