After a whirlwind couple of months for the Trump family, including multiple indictments, it has become clear that his social media platform Truth Social, enjoyed by about 2 million Trump followers, is at risk of failing.
Trump’s Tough Times
Former President Donald Trump is facing a series of challenges, including multiple indictments and an impending trial, but now something else he loves is under attack.
Trouble for Truth Social
Trump’s beloved social media platform, Truth Social, is in jeopardy, with a pivotal test on the horizon.
The High-Stakes Deal
The deal to take Truth Social public could determine whether it soars as a multibillion-dollar company or crashes and burns.
The Merger Plan
Back in October 2021, Trump’s company, Trump Media & Technology Group, planned to merge with Digital World Acquisition Corp (DWAC), a special-purpose acquisition company (Spac).
Shareholders Face a Dilemma
Digital World’s shareholders are now asked to grant an extension to complete the deal or risk DWAC’s dissolution, a decision that could cost them a hefty sum of money.
A $300 Million Decision
Refusing the extension means Digital World must return $300 million to shareholders, leaving Trump’s company with nothing.
A History of Extensions
The deal’s deadlines have been extended five times, raising concerns and questions about its viability.
Running Out of Time
University of Florida Finance Professor Joe Ritter commented, “The deal does seem to be running out of time. You can’t just keep getting extensions forever.”
Allegations surfaced that the company initiated discussions with Trump’s team before SPAC rules allowed.
CEO Termination and a Tarnished Reputation
The board terminated the company’s chief executive before another former board member was arrested, tarnishing the reputation of the deal.
Insider Trading Scandal
A former board member faced insider trading charges, and Digital World also agreed to an $18 million settlement for misleading investors and providing false information to the Securities and Exchange Commission (SEC).
Trump Media’s Accusations
Trump Media blamed regulators, accusing the SEC of “sabotaging” the merger and delaying the process.
Truth Social’s User Base
Truth Social boasts an estimated 2 million users, significantly fewer than other major social media platforms.
Social Media Giants
In comparison, Facebook, YouTube, WhatsApp, Instagram, and X (formerly Twitter) have billions of users combined.
The Big Decision Looms
As the crucial meeting approaches, the fate of Truth Social hangs in the balance. With the clock ticking, the world watches to see if Truth Social will rise or fall.
“He’s Fine. This Is Fine”: Biden’s Stage Exit Struggle Fuels Cognitive Decline Debate; Administration Defends Leadership Amid Growing Concerns
Joe Biden’s speech in Philadelphia on July 20th caught the attention of many when a video clip surfaced showing him appearing confused and struggling to find the exit after finishing his address. “He’s Fine. This Is Fine”: Biden’s Stage Exit Struggle Fuels Cognitive Decline Debate; Administration Defends Leadership Amid Growing Concerns
Trump’s No-Show Backfires: GOP Candidates Skyrocket in Post-Showdown Poll – Who’s Leading the Charge?
Following the inaugural Republican presidential primary debate last Wednesday, a recent poll indicates that three candidates have experienced an uptick in their levels of support. The debate featured eight candidates, excluding Donald Trump, who opted out of participating due to his prominent position. Trump’s No-Show Backfires: GOP Candidates Skyrocket in Post-Showdown Poll – Who’s Leading the Charge?
Tucker Carlson Drops Bombshell Allegations: Obama’s Crack Habit and Secret Gay Affairs Revealed, Predicts U.S.-Russia War
Tucker Carlson, the former Fox News host, made a series of controversial allegations about Barack Obama’s past. He claims the media intentionally overlooked these stories during the run-up to the 2008 presidential election. Tucker Carlson Drops Bombshell Allegations: Obama’s Crack Habit and Secret Gay Affairs Revealed, Predicts U.S.-Russia War
“Trump Has No Idea How the Government Works”: Declares He Won’t Have Any Choice but to “Lock People Up” if He Wins the 2024 Election
In a recent interview with radio show host Glenn Beck on August 29, former President Donald Trump made headlines again with his comments about potential legal action if he secures victory in the 2024 presidential election. “Trump Has No Idea How the Government Works”: Declares He Won’t Have Any Choice but to “Lock People Up” if He Wins the 2024 Election
“They’re Afraid of Donald Trump” – Chris Christie Labels Trump a ‘Criminal’ and Says His Republican Backing Is Fear Driven
Former New Jersey Governor Chris Christie did not hold back when discussing his political rival, Donald Trump, during a recent appearance on Face the Nation. “They’re Afraid of Donald Trump” – Chris Christie Labels Trump a ‘Criminal’ and Says His Republican Backing Is Fear Driven
Featured Image Credit: Shutterstock / Rokas Tenys. The people shown in the images are for illustrative purposes only, not the actual people featured in the story.