Trump’s TRUTH is looking for billions of dollars more

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Remember TRUTH Social? It is the long-threatened contribution of former President Donald Trump to the social media game after receiving the boot of most reputable services in the industry. It was supposed to be the beta release in November. That didn’t happen. Meanwhile, Truth has already put its owner in legal hot water on how it was funded. Speaking of which, Trump’s media company is already asking for a lot of extra money after it has exceeded one of its key deadlines.

According to sources, the Trump Media Company expects to raise $ 1 billion for its social media companies. How will they do that? According to sources, “selling hedge fund shares and family offices on several occasions the valuation he ordered in an agreement with a blank check acquisition company in October.”

It doesn’t sound gloomy! The new company is already seeking $ 293 million through a merger with the blank check firm Digital World Acquisition Corp. According to sources:

The deal valued Trump Media at $ 875 million, including debt. Trump Media is now looking to raise an additional $ 1 billion with a valuation of about $ 3 billion, to reflect the rise in Digital World stocks after Trump supporters and daily traders took the shares, they said. say the sources.

Meanwhile, Trump, who revealed on Wednesday that he had tested positive for COVID a few days before one of his presidential debates with Joe Biden, thus endangering his life and the lives of everyone there, has also personally called potential investors, seeking $ 100 million in commitments.

So far, however, there is nothing to show Trump’s company. The beta version of TRUTH Social, which presents itself as a “rival of the liberal media consortium,” is out of order. However, investors were shown a demo version, which apparently “looked like a Twitter channel.” With one important exception: Donald Trump is not permanently banned from use.

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