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Accountants have 'doubt' that Trump's Truth Social will survive

By Matt Egan | CNN Former President Donald Trump’s social media venture Truth Social is burning cash and piling up losses so rapidly that accountants warn it might not survive unless it soon completes a long-delayed merger, according to corporate filings. Trump Media & Technology Group (TMTG), which is chaired by the former president, has lost $31.6 million since the company launched in early 2021, SEC filings released Monday show. Truth Social launched in early 2022 as an alternative to
Donald Trump Trump Media Technology Group Matt Egan President Donald Trump Truth Social Technology Group
Source: wn.com

Accountants 'doubt' that Trump's Truth Social will survive

Digital World’s board believes that if Trump Media is “properly capitalized,” it is “very well positioned to grow a user base at an accelerated base,” the SEC filings say. Citing Trump’s massive social media following, the board argued Trump Media is “positioned to exceed” the blockbuster growth of Facebook when it went from 1 million users to 10 million in three years.
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