The share price of Donald Trump’s media company has fallen from last week’s high when it officially listed on the Nasdaq stock exchange.
But it is still worth more than $7bn (£5.6bn) at current prices – an astonishing sum given the business behind it.
So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make? And is it the answer to Mr Trump’s spiralling legal bills?
So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make? And is it the answer to Mr Trump’s spiralling legal bills?
Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence.
The idea was pitched to him by two men, former contestants on his reality TV show, The Apprentice, who saw an opportunity to create an alternative to the mainstream social media sites.
In 2022 Trump Media launched its first – and to date only – product for the public: the social media platform Truth Social.
Much of Truth Social’s functionality is identical to X. Users are able to post ‘truths’ or ‘retruths’ as well as send direct messages. Adverts, meanwhile, are called ‘sponsored truths’.
The share price of Donald Trump’s media company has fallen from last week’s high when it officially listed on the Nasdaq stock exchange.
So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make? And is it the answer to Mr Trump’s spiralling legal bills?
But it is still worth more than $7bn (£5.6bn) at current prices – an astonishing sum given the business behind it.
Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence.
So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make? And is it the answer to Mr Trump’s spiralling legal bills?
So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make? And is it the answer to Mr Trump’s spiralling legal bills?
Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence.
The idea was pitched to him by two men, former contestants on his reality TV show, The Apprentice, who saw an opportunity to create an alternative to the mainstream social media sites.
In 2022 Trump Media launched its first – and to date only – product for the public: the social media platform Truth Social.
Much of Truth Social’s functionality is identical to X. Users are able to post ‘truths’ or ‘retruths’ as well as send direct messages. Adverts, meanwhile, are called ‘sponsored truths’.
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