The financial collapse of Donald Trump’s Truth Social just got even uglier
Donald Trump’s Truth Social network has been a financial disaster from the start, and various major media outlets have reported that its finances are under federal criminal investigation. Truth Social managed to stave off total collapse earlier this year. But now things are heading off a cliff again.
Trump has been trying to merge Truth Social with another company for awhile. But now that company is formally retracting its past two years of financial statements, which essentially means its finances are fake. It’s not yet clear if the company is a little bit fake or a lot fake, but that’ll come out as investigators dig deeper into the mess.
So Donald Trump is stuck trying to salvage Truth Social by merging it with a company whose financial standing appears to be every bit as fake as, say, the Trump Organization.
In the meantime, President Joe Biden’s 2024 campaign has created an official account on Truth Social, just to taunt Donald Trump about how it’s all falling apart for him. Given that Truth Social is a ghost town headed for financial collapse, the timing couldn’t be better.
