Former US President Donald Trump’s social network Truth has accumulated $73 million (C$100 million) in financial losses since its launch in early 2022.
This data was obtained from the U.S. Securities and Exchange Commission at the request of Digital World Acquisition Corp. published that had planned a merger with the company Trump Media & Technology (TMTG), which owns the Truth network.
According to published data, Donald Trump’s social network would have recorded a net loss of $50 million in 2022. A total of $23 million was added in the first half of 2023.
Accountants now fear that Truth will not be able to survive under these conditions unless its merger with Digital World is further postponed.
Founded in 2021, TMTG launched Truth in February 2022. The social network was intended to be a response to Twitter, which banned Donald Trump from its platform.