Investors pulling out millions and abandoning Trump's Truth Social SPAC: report
2 years, 3 months ago

Investors pulling out millions and abandoning Trump's Truth Social SPAC: report

Raw Story  

According to a report from Reuters, investors who had planned to be a part of the new business entity behind Donald Trump's Truth Social media platform are bailing and taking their millions in their investment capital elsewhere. The SPAC that would tie Truth Social to Digital World Acquisition Corp. has been buffeted with nothing but bad news for months after an FEC probe of the deal was announced, the Truth Social app was banned from Google Play and the enrollment on the site has stalled out despite Trump being the main attraction since he is banned on Twitter, Facebook and other social media sites. Reporting that "The deal between the special purpose acquisition company and Trump Media and Technology Group, which owns Truth Social, has been on ice due to civil and criminal probes into the circumstances around the agreement," the Reuters report added, "Digital World said it had received termination notices from private investment in public equity investors ending nearly $139 million in investments out of the $1 billion commitment it had previously announced." RELATED: 'Trump’s deranged outrage style' is history as Truth Social becomes a 'slow-cooking financial disaster': analyst One investor reportedly delivered the biggest blow.

History of this topic

'Massive potential conflict of interest': Reporter says Trump's app vessel to curry favor
1 month, 2 weeks ago
Donald Trump dismisses ‘fake and illegal’ Truth Social ‘rumours’ spreading after his election victory
Top News
1 month, 2 weeks ago
Trump promises he won't sell Truth Social shares, calls for investigation into rumors
Trending News
1 month, 2 weeks ago
Trump just made $500 million with a single Truth Social post
1 month, 2 weeks ago
'Truth Social is dead in the crib' after election win: analyst
Trending News
1 month, 2 weeks ago
Truth Social: Why Trump being president again is horrible for his social media company.
Top News
1 month, 2 weeks ago
Trump Media gains post-election, even as Truth Social parent reports $19 million quarterly loss
1 month, 2 weeks ago
DJT: Trump’s social media stock spikes after victory, making him $1 billion richer
Trending News
1 month, 2 weeks ago
Donald Trump’s fortune to jump by $1.4bn
1 month, 2 weeks ago
Trump's Social Media Stock Soars as Election Looms
Trending News
1 month, 2 weeks ago
Trump loses $1.3bn in net worth after his social media stock tanks
1 month, 3 weeks ago
Trump’s Truth Social is now worth more than Elon Musk’s X after recent surge in stock price
1 month, 3 weeks ago
Trump's Truth Social Stock Soars, Outperforming Elon Musk's X in Market Valuation
1 month, 3 weeks ago
Trump Media shares halted five times on Tuesday morning amid volatile trading
1 month, 3 weeks ago
'What idiots we are': Truth Social users lose hundreds of thousands of dollars to scammers
2 months, 2 weeks ago
'Terrible Run': Report reveals staggering amount Truth Social has lost
3 months ago
Trump’s Truth Social stake down by $6.5 billion — on day he’s allowed to start selling
3 months ago
Truth Social reaches a tricky milestone. Will Donald Trump cash out his stake?
3 months, 1 week ago
Trump's campaign can't get in the way of his new grift
3 months, 1 week ago
Trump Media stock jumps after former president says he won’t sell shares when lockup expires
3 months, 1 week ago
Trump’s $2B decision: Former president vows to hold onto social media venture stock
3 months, 1 week ago
Truth Social stock plunges by more than 15 percent after widely panned Trump debate
3 months, 1 week ago
Shares in Trump's media company have plummeted 74% since their peak this spring
3 months, 2 weeks ago
Trump’s Truth Social parent company stock price falls to all-time low
3 months, 2 weeks ago
Why Trump might have trouble cashing in on Truth Social billions
3 months, 3 weeks ago
Truth Social stock has lost more than 40 percent of its value in just over a month
3 months, 3 weeks ago
Column: Trump’s Truth Social stock is circling the drain
4 months ago
Cryptocurrency, Truth Social and gold bars: A look at Trump’s reported sources of income
4 months, 1 week ago
Trump’s financial disclosure reveals $1m in crypto and a lucrative side hustle with Bibles
4 months, 1 week ago
Trump set to 'absolutely decimate' Truth Social investors with return to X: analyst
4 months, 1 week ago
Donald Trump’s Truth Social: The former president’s return to Twitter reveals his greatest scam yet.
4 months, 1 week ago
Truth Social tanks as Donald Trump returns to X
4 months, 1 week ago
Truth Social stock takes a tumble as Trump makes his X return
4 months, 1 week ago
Trump’s Truth Social lost $16.4 million last quarter and had under $1 million in revenue
4 months, 2 weeks ago
Trump’s net worth has dropped by $900m since Harris entered the race
4 months, 3 weeks ago
Trump’s Truth Social nears lowest audience mark since its launch, report says
4 months, 3 weeks ago
Shares of Trump Media swing wildly after first US presidential debate, fall 10%
5 months, 3 weeks ago
Trump Media stock sinks near all-time low as SEC declaration may dilute existing holders
6 months ago
Trump has now lost $267M with 'erratic' Truth Social stock: report
6 months ago
Trump Media in spiral as it plunges to lowest level in months: report
6 months, 1 week ago
Trump Media shares down more than 6% after hush money guilty verdict
6 months, 3 weeks ago
Trump Media reports $327M net loss in 'dire' new filing: analysis
7 months ago
Trump Media's stock price plummets as SEC charges auditor of 'massive fraud', imposes lifetime ban
7 months, 3 weeks ago
Trump Media audit firm charged with fraud
7 months, 3 weeks ago
Trump awarded 36 million more Trump Media shares worth $1.6 billion after hitting price benchmarks
7 months, 3 weeks ago
Investors admit shorting Truth Social stock to crash Trump's dream of cashing in
7 months, 4 weeks ago
Trading Trump: Truth Social’s first month of trading has sent investors on a ride
7 months, 4 weeks ago
Column: With his Truth Social stock, Trump may be laughing all the way to the bank — but his investors have reason to weep
8 months, 1 week ago
Trump Media stock plummets after big streaming service announcement: analysis
8 months, 1 week ago
Trump's Truth Social Stock Is Plummeting — Again
8 months, 1 week ago

Discover Related