(WatchDogReport.org) – Former President Donald Trump’s social media start-up Truth Social started trading on the Nasdaq composite index at the end of March. This development presents an investment opportunity for those wanting to join his pushback against leftist censorship of conservative views.
The social media platform now falls under Trump Media & Technology Group Corp. since the approved merger between Trump Media & Technology Group and Digital World Acquisition Corporation, a special-purpose acquisition company. CEO and former Republican California Representative Devin Nunes commented that the public company will passionately work to reclaim the internet from Big Tech censorship. He added that the company is committed to providing a “safe harbor” for free expression to stand up to suppressors of free speech.
Truth Social was founded after the former president’s Twitter ban, which has since been lifted after Elon Musk took over the company. Whereas Truth Social claims to fight against the suppression of free speech, despite Musk’s apparent eagerness to do the same, his company, since rebranded X, has reportedly complied with 80% of requests by governments and courts to take down content. Musk has also come under fire for his decisions to allow more controversial figures back onto the platform, such as Andrew Tate. The controversial influencer currently facing charges of rape and sex trafficking in both Romania and the UK not only saw his ban lifted but his video interview with Tucker Carlson promoted by Musk.
Despite facing financial concerns due to the verdict of his New York civil fraud case, which found the former president exaggerated his wealth to obtain better loan terms, Trump is now among the world’s 500 wealthiest people as a result of the merger. His net worth has reportedly increased by $4 billion, making his overall fortune $6.4 billion.
Establishment media outlets have routinely predicted the downfall of Truth Social. Since it became a public company with the merger, CNN reported that the multi-billion valuation of the platform “defied logic.” Truth Social still only has 494,000 monthly users in the US, which is significantly less than the amount of monthly X users. In February 2024, the number of users went down 51% year over year.
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