TECH - Donald Trump's Truth Social Records $73M Loss In Less Than Two Years | Benzinga
According to a new financial disclosure, Truth Social, the social media platform of former President Donald Trump, has lost $73 million in net sales since its inception in February 2022.
The disclosure was filed by Digital World Acquisition Corp. (NASDAQ:DWAC), a company in merger talks with Trump Media & Technology Group (TMTG). Trump holds a share in Truth Social, previously estimated at between $5 million and $25 million.
The filing reveals that Truth Social lost $50 million on $1.4 million of net sales in 2022, and an additional $23 million within the first half of this year, reported The Hill. The report also warns that TMTG may not survive if it fails to complete its merger with DWAC and secure further funding.
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The S-4 filing also flags “Risks Related to TMTG,” stating that ...