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Donald Trump's business skills dubbed as 'horrible' after filing reveals Truth Social has lost $73M since its launch

Donald Trump's Truth Social, a social media venture launched less than two years ago, has faced severe financial losses and failed to pull in users

PALM BEACH, FLORIDA: Donald Trump's Truth Social, his highly touted social media venture, has apparently incurred staggering losses of $73 million in less than two years since its launch.

The recent filings on Monday, November 13, publicly unveiled the financial details of Trump Media and Technology Group (TMTG) for the first time, painting a grim picture of the platform's financial health.

Despite Trump's aggressive promotion of Truth Social as his primary social media outlet, these numbers signify that the platform has struggled to translate its popularity into substantial revenue, signaling a rocky start for the tech startup, as per Daily Mail.

Truth Social's parent company plans to merge with Digital World Acquisitions Corp

The parent company of Truth Social, TMTG, disclosed plans to merge with Digital World Acquisitions Corp, underscoring the dire financial situation of the social media site. A

A complex financial scenario was revealed as per the balance sheet, which cited a "change in fair value of derivative liabilities," a matter separate from the company's day-to-day expenses.

Moreover, it highlighted a concerning statement, "Management has substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due."

The filing further expressed uncertainty about raising additional funds through conventional channels without substantial progress in the merger with Digital World.

Donald Trump's exclusive use of Truth Social failed to translate into financial success

Since its launch in early 2022, Truth Social has reportedly only generated $3.7 million in revenue while incurring nearly 20 times that amount in losses. Trump's promise that the platform would challenge major tech companies has seemingly fallen short, with his own usage primarily involving daily rants and criticisms.

From capitalizing on daily news to complaining about alleged "witch hunts" and "election interference," Trump's exclusive use of Truth Social as a soapbox hasn't translated into financial success for the platform.

Internet trolls Donald Trump's business skills following financial filing of Truth Social

Soon after the data concerning Truth Social came to light, netizens were quick to mock the former president and question his business skills. 

One said, "As a New Yorker, we've always known Trump is a horrible businessman and never received his profits based on truth/honesty. Many companies went under because of him while he banked off their labor calling that great business. Anyone who schemes, conspires & goes bankrupt can make it big."

"Another Business Failure for Donald Trump! . . . How many is that now?" said another. 

A person joked, "Don’t tell Elon, he’ll probably buy the whole thing for $20B now." 

"Truth Social, whether a success or not, should be shut down by the DOJ for discussing issues of his pending 4 Indictments, and trying to influence the Juries on those trials," opined a user. 

"That’s how the Boss runs his businesses," quipped someone else. 

A surprised individual expressed, "That is a huge loss!"