Trump's Truth Social Has Lost $73 Million Since Launching in 2022

justjared.com:

Donald Trump‘s social media platform is not doing too well. Since launching in early 2022, the 77-year-old former President of the United States’ Truth Social brought in $3.7 million in net sales, and lost $73 million, via THR.

It’s the first time any internal financial details have been publicly revealed for the tech startup, owned by Trump Media & Technology Group (TMTG). Keep reading to find out more… Those numbers appear in a new financial disclosure from TMTG’s SPAC merger partner Digital World Acquisition Corp.

In 2022, Truth Social lost $50 million on just $1.4 million of net sales, and in the first 6 months of 2023, it brought in $2.3 million, but lost $23 million. “TMTG’s independent registered public accounting firm has indicated that TMTG’s financial condition raises substantial doubt as to its ability to continue as a going concern,” reads the filing.

The filing also says that “as of June 30, 2023, and December 31, 2022, management has substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due, including liabilities related to promissory notes previously issued by TMTG.