Truth Social Gets a Bailout

Truth Social will continue to live on. It will actually live until September 2023. Trump’s social media app was at risk of being shut down. According to the New York Post, investors voted for cash to give the struggling social media a second chance. Digital World Acquisition Corp is expected to acquire Truth Social. This acquisition must be completed by September next year. While DWAC awaits approval from the SEC, the company must still raise operating funds. Truth Social will be buying $1.25 billion if the SEC approves.

According to the Post, the vote was a minor boon for DWAC’s worth. After Trump’s 2024 campaign, shares in the company dropped to $28 per share from $22 per. The stock rose 5.7% to $22.73 on Tuesday.

The Donald has been allowed to return to Twitter. This could prove problematic, as the Post noted. Truth Social is his baby. Since Twitter banned him from the social media Phantom Zone, he owns 90% of the company. He has made good use of it but he is preaching his message to a choir that already supports him. Echo chambers can be good for your ego, but they don’t do much for engaging others outside of your camp. Most people who don’t agree with Trump won’t bother creating a Truth Social account. Except if they’re planning to trolling. Trump has assured his followers that Trump intends to stay where he is. However, it is possible that Trump may find Twitter too tempting to resist and so we might see him posting on both. Trump signed a contract with Truth Social requiring that any content he posts on the platform remain there and not be shared to other platforms. As election season nears, Trump is faced with an uneasy choice. It isn’t, but then again, it could be. In any case, you can expect a Trump-tweet at #45 or a member his campaign to come to your account soon.