Donald Trump's Truth Social could be worth over $5 billion despite its bad performance, including a low number of users. Experts said that the social media platform is currently losing money.
They claim that this could be the case "for the foreseeable future."
Donald Trump's Truth Social Could Worth Over $5 Billion
According to Business Insider's latest report, although Truth Social is losing money, it could be worth more than $5 billion.
This could be the case even if the social media platform of the ex-U.S. president only has 5 million users and performing badly.
Unlike other social media platforms, Truth Social has a tiny footprint. In February 2023, it only had around 5 million active users. These include website visitors and mobile users.
If you'll compare Donald Trump's social media platform to TikTok, its user base dwarfs it. TikTok had over 3 billion monthly active users in February 2023.
Meanwhile, X (formerly called Twitter), has more than 350 million active users across the globe. Because of its poor performance, Truth Social has been losing money significantly.
Donald Trump's social media site lost over $31 million from its launch in early 2022 until mid-2023.
READ NEXT : Donald Trump Has No Money Left As Digital World Acquisition Plans To Take Over HIs Truth Social App
Truth Social Parent Firm to Become Publicly Traded Company
According to CNN Business, the company that owns Truth Social, the Trump Media & Technology Group, will soon become a publicly traded firm.
This was thanks to the deal that has been approved by investors. Although the merger was delayed for a long period, it is still a big deal for Donald Trump as it will make him $3 billion richer.
People familiar with the matter said that the merger could be worth $5.7 billion, which could help Donald Trump as he faces mounting legal costs and penalties.
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