Trump Boasts About His Wealth As Truth Social Deal Falls Apart

The company that was trying to merge with Donald Trump's media empire - Digital World Acquisition - is likely going to be pulling out of the billion-dollar deal after investors failed to pass an extension to get the deal done. This means that Trump could be on his own trying to pay for the group that is clearly failing, but he assured his Truth Social followers that he doesn't need the investment because he's super rich and can pay for it himself. This is a recipe for disaster, as Ring of Fire's Farron Cousins explains.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

The deal with digital world acquisition to acquire the Trump media and technology group might already effectively be dead. And here's why earlier this week, digital world held a, uh, vote with their shareholders to try to get an extra 12 months extension on their purchase, merger, acquisition, whatever you wanna call it of Trump media and technology, which of course includes truth social well, the shareholders didn't wanna give it an extra year. They're tired of this. And I think a lot of them just wanna get out while the getting is good and the reason they needed the extra year one, they wanna make sure Donald Trump is not gonna go to jail, but two, they can't finalize anything with Donald Trump until after the S E C finishes their criminal investigation into digital world and Donald Trump's group. So the deadline was yesterday. They didn't meet the deadline. So the deal as of right now does appear to be dead.

Donald Trump is not going to get the buyout from digital world acquisition. And that likely is a death sentence for Trump's media and technology group, of course, including truth, social, but don't worry. Folks. Donald Trump tells us he's very rich. He can handle this thing all on his own. In fact, he did send out a, uh, truth on truth social that said, I don't need financing. I'm really rich private company, anyone that's right, bud, just put on that brave face. Just act like none of this bothers you act like it's not a totally massive failure of your little media company. And of course, pretend like you're not under criminal investigation for the, uh, potential deal here either because that, by the way, is another investigation that threatens to take down another part of Donald Trump's life. But if Trump were serious and he's like, I don't need financing.

Cool. Why didn't you just do that to begin with, if you're really rich, why didn't you, uh, dump a billion of your own dollars into this to build it up? You didn't need the digital world thing. You didn't need to have an investigation into your dealings with digital world, but that's what you got because you don't ever wanna spend your own money because you don't actually have faith in your projects. If you did, you wouldn't hesitate to invest your own money because you would know there would be a big return on investment, but because you're so scared that your own company is going to fail, you refuse to put all of your own money into it. And that's why you sought out the investors right better to lose their money than lose your own and a private company. Yeah. You want other people to come in and throw money into this S of crap truth, social, by the way, which is

The, the only part of Trump media and technology that is up and running is not available for about half of the mobile user market, because it's not available in the Google play store. So you got about half the market already that can't even use your product. Furthermore, your product is not yet set up to even generate revenue. And that's something most people don't understand about truth. Social they're not running ads. There's literally no money coming into that program. And according to digital world truth, social, basically Trump media and technology only has enough cash on hand to be considered liquid through next April.