Truth Social is an app owned by Trump Media & Technology Group (TMTG) founded by Donald Trump.
Trump is facing over $500 million in fines from multiple legal cases; he’s desperate but also obsessed with the platform, which has been shockingly successful despite its unprecedented business model. Its owner is also the Republican candidate for president with a dreadfully anticipated election in 7 months.
Here are some recent, interesting articles about the situation;
https://www.washingtonpost.com/technology/2024/03/12/trump-musk-truth-social-sale/
https://www.nytimes.com/2024/02/26/business/trump-media-digital-world-acquisition-cash.html
https://nymag.com/intelligencer/2024/03/truth-social-could-still-make-trump-billions-if-he-wins.htm
Feel free to add answers but keep them newsworthy.
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This needs to resolve or N/A or clarify. He never owned all of it. Now it has been offloaded onto the public but he still owns a stake. Let’s say Elon Musk makes an offer for the whole company tomorrow. Truth Social board, which presumably thinks Trump is a great guy, calls a meeting and recommends shareholders accept the offer. Which could be great offer! Shareholders, 99% of whom think Trump is a great guy, 0.5% of whom think Truth Social is fantastic business model, and 0.5% of whom are unaware their financial advisor put their money into this, approve. Company now private and owned by Elon. I don’t THINK this not ridiculous scenario counts as “Trump sells Truth Social” but maybe I’m nitpicking.