Donald Trump's Social Party loses $73 million due to 'substantial doubts' about future

Presidential candidate Donald Trump announced his project on social media after being banned from Twitter in 2021. Photo: Brian Snyder/Reuters

Mr Trump announced Truth Social in 2021, following a transition as president and a Twitter ban for posts related to the January 6 attack.

Although his Twitter account has since been restored to Elon Musk's ownership and has an exclusive deal. requiring him to first post on Truth Social.

That agreement ended in June, although Trump “verbally confirmed” that he would continue to honor it, according to the documents. He continued to post to Truth Social, tweeting only once after his arrest in Georgia in August.

The filings show Truth Social lost $50 million on historical revenue of $1.4 million year and $23 million in the first. half of 2023 with revenue of $2.3 million.

His value has also fallen: Trump recently announced that his majority stake in the company is worth between $5 million and $25 million.

Digital World has asked the remaining investors to extend the deadline for completing the takeover of Truth Social.