LINK Truth Social Buyer Flags Trump's Many Business Failures to Investors
The company buying Donald Trump's social network Truth Social has warned investors about the former president's history of bankruptcies and business failures.
In a regulatory filing Monday, Digital World Acquisition Corp highlighted the bankruptcies of Trump Taj Mahal, Trump Plaza, and Trump Castle, and the failures of Trump University, Trump Vodka, and Trump Steaks, among others.
Digital World, a SPAC or "blank-check" firm, is seeking to merge with Trump Media and Technology Group (TMTG), the owner of Truth Social. Trump himself would control between 47% and 58% of the merged company and would serve as its chairman, Monday's filing shows.
Digital World said in its filing: "A number of companies that were associated with President Trump have filed for bankruptcy. There can be no assurances that TMTG will not also become bankrupt."
(I'd say it is very likely they will go bankrupt.)
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Feel free to reply to any comment by clicking the "Reply" button.If trump was as good at business as he thinks he is he would not have run for president and would actually have some money and not have to rely on Russia and Arabia for his financing. Both Russia and especially the Arabs will be pissed when he defaults on their loans and refuses to pay and no longer has any influence in any businesses. I think he may lose his head and end up in pieces in some hole in the ground somewhere, the Arabs play hard ball.
dalefvictor
Level 8
May 17, 2022
1
Not until Trump family squeeze every dime they can out of it into their personal accounts.
Barnie2years
Level 8
May 17, 2022
2
It hasn't turned a profit. The dimes they are squeezing are out of the foolish investors who put up the money.
@snytiger6 it’s hard to turn a profit when most of the money is being syphoned into the pockets of the Trump family before it gets on the books.
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