NEW YORK: Signs are growing that Donald Trump’s social media platform Truth Social is in financial trouble, with just a modest following six months after launching.
Fox Business Network reported Thursday that the platform has halted payments to the company that hosts it, RightForge, and owes $1.6 million.
The platform’s parent company, Trump Media and Technology Group, did not respond to a request for comment.
A RightForge spokesman would not comment on the reports that Trump Social is not paying its bills.
“RightForge was on the ground floor of building Truth Social and will continue to support president Trump in his endeavors,” the company said.
Meanwhile the parent company’s merger with Digital World Acquisition Corp — a blank check company formed specifically to carry out a merger — has yet to take place, 10 months after the announcement that it would happen. This fusion is supposed to bring in fresh funding for the Trump platform.
DWAC published Thursday a call for a special shareholders meeting September 6 at which investors will be asked to approve a one-year delay for carrying out the merger, until Sept 8 of 2023.
Without a favorable vote for an extension the blank check company said it will be forced to dissolve.
Comments
Comments are closed for this article.