Donald Trump's Truth Social Records $31.6M Loss In Less Than 2 Years (CORRECTED)

Editor’s note: This story and headline have been corrected to state that Truth Social has lost $31.6 million since its launch, not $73 million.

According to a new financial disclosure, Truth Social, the social media platform of former President Donald Trump, lost $31.6 million from its inception in February 2022 to mid-2023.

The disclosure was filed by Digital World Acquisition Corp. 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.

Truth Social recorded a $50.5-million profit in 2022 with net sales of $1.4 million and lost $23 million in the first half of 2023, with $2.3 million in net sales, according to Reuters.

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The S-4 filing also flags “Risks Related to TMTG,” stating that TMTG’s financial state raises significant doubt about its ability to continue. It further highlights that the company’s success is closely tied to Trump and Truth Social’s ability to attract and maintain a sufficient audience.

The disclosure concludes with TMTG’s management expressing concern about having sufficient funds to meet its liabilities and the difficulty of raising additional funds if significant progress is not made towards completing its merger with Digital World.

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