Donald Trump social media company set to go public

DONALD Trump’s social media company is set to go public, potentially netting the former US president stock worth billions on paper.

That means Trump Media and Technology Group, whose flagship product is social networking site Truth Social, will soon begin trading on the Nasdaq stock market. Ahead of the merger’s approval, Digital World’s regulatory filings listed many of the risks its investors face, as well as those of the Truth Social owner once Trump Media also goes public.

Trump Media lost 49m dollars in the first nine months of last year, when it brought in just 3.4m dollars in revenue and had to pay 37.7m dollars in interest expenses. Trump Media has not so far disclosed Truth Social’s user numbers. But research firm Similarweb estimates that it had roughly five million active mobile and web users in February.

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Donald Trump's social media company set to go public - potentially netting him $3bnThe former US president is grappling with a number of legal cases against him - including the fallout from a $454m judgement in a civil fraud case in New York.
Bron: SkyNews - 🏆 35. / 67 Lees verder »