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Trump’s social network came close to bankruptcy

A leaked financial document shows that Donald Trump’s social network Truth Social has lost $73 million in less than 2 years.
– International News

According to the international group Tasnim News Agency, a recently disclosed financial document from Dunya Digital Company. It says that Truth Social, the social network owned by former US President Donald Trump, has lost $73 million in net sales since its official launch in February 2022.

Digital World Company is a business partner of Trump Media and Technology Group. The latest value of Trump’s social network Truth is estimated between 5 and 25 million dollars.

According to this report, Truth Social generated $50 million in net sales alone 1/ It lost $4 million in 2022 and another $23 million in the first six months of this year.

According to this financial document, if the Trump Media and Technology Group cannot fully integrate with Digital World and receive additional funds, the company may not be able to continue to operate.

The document also states that the financial conditions of the independent registered company of the Trump Media and Technology Group have raised serious concerns and doubts about the continued operation. It shows that while these concerns are increasing. The future of this company is closely related to Trump, and if Truth Social fails to expand and maintain a following with enough viewers, or generally unfavorable trends in this social network spread, or if Donald Trump refuses to devote enough time to this social network. , Trump’s media and technology group company, will be seriously affected.

In the meantime, access to the Internet and normal presence in this social network, when detained Trump’s frequent visits by the police have been severely restricted due to multiple criminal charges or during his detention.

Social network X or former Twitter headed by Elon Musk reactivated Donald Trump’s user account after about 2 years in November last year, but Trump refused to be active on this social network again and stated that he wanted to be active on his social network.

Trump’s account on X and Facebook, after his supporters attacked the Congress in January 2021, and tried to prevent a peaceful transfer of power to Joe Biden and published inflammatory posts and The former president’s harsh address to his supporters was blocked. At the time, Trump and many of his administration officials were using social media to spread false information about the results of the 2020 election. After suspending his user accounts, Trump launched Truth Social.

Meanwhile, Trump verbally confirmed a few days earlier on October 30 that he is continuing to reach an agreement for a full merger of his company with Digital World Corporation.

Republican front-runner Donald Trump is currently facing multiple criminal charges: attempting to impeach The results of the 2020 election and his supporters storming the Capitol in January 2021, keeping classified documents in his personal Florida villa after leaving the White House, paying an immoral movie actor a hush-hush fee, and trying to change the results of the Georgia state election. . He is also involved in fraud and financial charges. In addition, the former US president is facing a case of paying damages to a writer who accused him of sexual assault. Trump has not been found guilty of any wrongdoing in any of these cases.

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