Trump desperately needs this. What I don't get is why people would put so much money into a social media site that is rather tiny.
Other than for laundering purposes of course.
So it looks like Trump is set to get about $3 billion from his "wildly popular" social media site/company going public, and while I'm no financial expert, it stinks to high heaven.
Dude, Seriously?
According to a preliminary vote total announced during the meeting, a majority of shareholders of Digital World Acquisition Corp. voted in favor of the deal to merge with Trump Media. The companies have indicated the merger could close as soon as early next week.
The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials. It will own Trump’s struggling social media platform Truth Social.
Now, I realize it's an apples/oranges comparison, but Truth Social has around 5 million users. Are they all real people and not bots like with Twitter/X? Let's assume against all odds that they are. Is 5 million a lot? More importantly, is it worth $3 billion?
One of the YouTube channels I watch pretty regularly is Doug DeMuro. He reviews cars. No big production values like some other channels, just a quirky guy reviewing the "quirks and features" of new or interesting cars. He has (at last count) just under 5 million subscribers, and has branched out into actually selling cars with an online auction site. Cars & Bids has done - according to a quick Google search - about $230 million in business. Good enough to net him a $37 million dollar cash infusion from and investment group.
One guy...5 million subs...$37 million dollars. Meanwhile,
One guy...5 million users...$3 BILLION?
How is this not just a massive scam?