The Damage Report
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REVEALED: Trump's Truth Social Is A Complete DISASTER
Posted
November 19, 2023
Views
44,803
Likes
2,142
Comments
257
Engagement
5.35%
November 19, 2023
44,803
2,142
257
5.35%
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4:18
7:14Now PlayingTruth Social, former President Donald Trump's social media platform, has incurred a $73 million loss since its early 2022 launch, as disclosed in a securities filing by Digital World Acquisition Corp, the SPAC set to merge with the platform, raising concerns about its ability to continue as a going concern, according to Trump Media & Technology Group's accounting firm. John Iadarola and Aida Rodriguez break it down on The Damage Report.
Read more here
"Former U.S. President Donald Trump's social media platform Truth Social has lost $73 million since its launch in early 2022, a securities filing by Digital World Acquisition Corp (DWAC.O), the SPAC that plans to merge with the company, showed on Monday.
Trump had announced the launch of his social media app in Oct 2021, saying it would "stand up to Big Tech" companies such as Twitter and Facebook that previously barred him.
In 2022, Truth Social posted a loss of $50 million, with net sales of just $1.4 million. It lost $23 million in the first half of this year, with net sales of $2.3 million.
Trump Media & Technology Group's (TMTG) independent registered public accounting firm has indicated that the financial condition raises substantial doubt as to its ability to continue as a going concern, according to the filing."
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231114__DR08TruthSocial
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