When Truth Social launched in 2022, it was lauded as a conservative-friendly alternative to the Big Tech platforms, aiming to draw in advertisers seeking to reach Donald Trump’s millions of followers. However, a recent regulatory filing has disclosed that the owner of Truth Social, Trump Media & Technology Group, has only made $2.3 million in …
(Reuters) – Truth Social, the much-anticipated social media platform launched by former U.S. President Donald Trump, has reportedly suffered a staggering loss of $73 million since its introduction in early 2022, according to a recent securities filing by Digital World Acquisition Corp, the SPAC set to merge with the company. Back in October 2021, Trump …
The Biden campaign has made a strategic move by joining Truth Social, the platform created by former President Trump. This decision allows the campaign to share its message in a space mostly dominated by the former president and his followers. In their first post on the platform under the handle @BidenHQ, the campaign expressed their …
In a surprising turn of events, the shell company that was set to merge with former President Trump’s media company has lost $467 million in funding. Digital World Acquisition Corp. announced this setback in a regulatory filing on Thursday. CEO Eric Swider confirmed that the remaining $533 million would be returned to investors, effectively …
The funding partner for Trump Media & Technology Group announced that it will return $533 million of the $1 billion raised for the venture after investors canceled $467 million in commitments. Digital World Acquisition Corp. (DWAC), a special-purpose acquisition company, revealed in a regulatory filing that it has received termination notices for $467 million of …
Donald Trump celebrates the forthcoming departure of Senator Mitt Romney from Congress, describing Romney’s retirement announcement as “fantastic news for America, the great state of Utah, and for the Republican Party.” Trump previously endorsed Romney’s presidential candidacy in 2012 and his run for the Senate in 2018. However, their relationship soured, culminating in a …
Good morning, Quartz readers! We have some important updates for you: 1. Saudi Arabia and Russia have agreed to extend oil production cuts. However, US President Joe Biden has warned of potential consequences if Saudi Arabia partners with Russia on cuts. This could result in increased costs for transportation and related industries. 2. The impact …
Donald Trump’s media company has faced numerous challenges over the past two years. Despite its efforts to go public since October 2021, Trump Media and Technology Group (TMTG) and its right-wing Twitter clone, Truth Social, have encountered regulatory problems and procedural obstacles. How long can consumer spending prop up stocks? The $300 million merger between …
A highly anticipated merger between the previous administration’s media company and a blank-check company has been granted an extension just in the nick of time to avoid liquidation, according to reports. Shareholders of Digital World Acquisition Corp. (DWAC) have approved a one-year extension for the merger deadline between the two companies, as reported by the …
Investors have granted Digital World Acquisition Corp. (DWAC), the blank check company seeking to take Truth Social public, an additional year to finalize its merger with Trump Media & Technology Group (TMTG), former President Trump’s media startup. This extension comes just days before the original Sept. 8 merger deadline, as reported by Axios. It is …