2024-03-24 21:52:45
Former president and presidential candidate of the United States, Donald Trump, is soon to receive a large payment thanks to his social network Truth Social.
Investors in the company Digital World Acquisition Corp. have approved an agreement to merge with Trump Media & Technology Group, which has the social network Truth Social as its star product.
With the deal, Donald Trump will receive a majority of Digital World Acquisition Corp. shares.
As stated RPPafter the merger, Digital World Acquisition Corp. will be worth 5.7 billion, of which 3.3 billion in shares will go to Donald Trump.
Deal will be a lifeline for Donald Trump and his social network
This will represent a lifeline for the impending presidential candidate for this year’s general election in the United States.
Donald Trump must pay $454 million after the verdict in a fraud trial. His lawyers are in the process of appealing the sanction, citing “irreparable harm” to the 77-year-old businessman.
Truth Social would also see the merger as a salvation, as it includes an injection of $300 million in cash. Donald Trump’s social network recorded losses of $10.6 million in the first 9 months of 2023 and $23.2 million in 2022.
How does Truth Social work?
Truth Social is a social network launched by former United States President Donald Trump. It was advertised as a platform intended to provide an alternative to more conventional social networks. This, since according to Trump and his followers, they have an alleged tendency to censor or limit conservative opinions. Consequently, it presents itself as a platform “that promotes freedom of expression” and seeks to attract users who share those concerns.
In terms of its interface and design, it has similarities with existing social platforms, especially Twitter. It includes a news feed or timeline where users can see posts from people they follow, as well as profile tools to manage personal information and privacy settings.
Truth Social Donald Trump
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