The share price of Digital World Access Corp. began trending downward following a shareholder vote Friday morning to merge with Donald Trump’s social media company: Trump Media & Technology Group, the parent company of the Truth Social digital platform. The deal, which personally gives Trump billions of dollars in potential equity value, includes contractual requirements barring him from selling shares for six months.
Donald Trump is still very angry over the erroneous reporting about the financial losses at his Twitter clone, Truth Social, and in a new lawsuit filed Monday, the ex-president claimed that the reports were actually a vast media conspiracy involving “no less than 20 major media outlets.”
The numbers are the first time that any internal financial details on the social platform have been shared publicly, and they suggest that while Trump has made Truth Social his primary social media platform, it has not been translating into meaningful revenue for the tech startup, which is owned by Trump Media & Technology Group.