Newshub18:In the financial crisis, Trump’s “Truth Social”, users are also less.
Former US President Donald Trump’s social media platform ‘Truth Social’ is in financial trouble. After being banned from Twitter, Trump launched Truth Social as an individual initiative. But even after six months of operation, the platform has not yet generated any users. Fox Business Network published a report on this last Thursday. According to the report, Truth Social is hosted by a company called Rightforge. The company owes $1.6 million to Truth Social. But Truth Social is unable to pay its debts.
Trump Media and Technology Group, the parent organization of Truth Social, was contacted for comment on the matter but did not receive a response. When contacted, a RightForge spokesperson did not comment on the matter.
Rightforge says that their office is on the ground floor of the building where Truth Social is headquartered. They will continue to support Trump in his efforts.
Truth Social’s parent company Trump Media and Technology Group was supposed to merge with a company called Digital World Acquisition Corporation. It was announced 10 months ago. But officially it did not happen. Truth Social may receive new investment in the merger.
But there is also uncertainty about that merger. Because, last Thursday, a special shareholders’ meeting has been called on September 6 with a statement on behalf of Digital World Acquisition Corporation. In the meeting, it is said that the approval of the investors will be sought by proposing to delay the merger till September 8 next year. The company said that if it does not get enough support, they will have to close the company.
Meanwhile, Digital World Acquisition’s financial statement released on Thursday showed they had only $3,000 in cash at the end of June