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Investors are Reportedly Facing Losses While Trump is Profiting from His Troubled “Truth Social” Platform

Former US President Trump (Credits: ABC News)

Trump Media & Technology Group (TMTG), which owns Truth Social, has seen its stock value drop dramatically recently, dropping nearly 30 percent over the past five days. This decline has affected former President Donald Trump’s stake in the company, as he holds almost 58 percent of TMTG’s shares.

The decline in TMTG’s stock follows its merger with a blank check acquisition company, which allowed it to become publicly traded. While the stock initially saw a rally after the merge, it has since plummeted, erasing any gains. It has lost around four percent of its value in just one day.

Donald Trump (Credits: CNBC)

Despite these losses for investors, Trump and other company executives are reportedly set to benefit financially from the merger. Trump could receive approximately 36 million “earnout shares” over the next three years, valued at around $1.2 billion at the current price. This arrangement has raised questions about personal enrichment and executive compensation within the company.

Truth Social’s financial performance is also under scrutiny. The platform generated only $4.1 million in revenue for the entire year of 2023 while reporting huge losses.

Additionally, Trump is not part of TMTG’s board, leading to observations that his compensation arrangement resembles that of an executive rather than a controlling shareholder.

Ex-US President Donald Trump (Credits: Newsweek)

Before the merger, TMTG executives received promissory notes, which were then converted into stock during the merger process. The issuance and purpose of these promissory notes have raised concerns and speculation among industry experts.

In response to inquiries about these financial arrangements, TMTG criticized media coverage, adopting a Trump-like rhetoric of dismissing criticism as “false insinuations and outright lies.”

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