Truth Social is a social media platform launched by former US President Donald Trump in 2021. It's available for download on both the App Store and Google Play.
The platform allows users to create an account, share posts, and interact with others. This is similar to other social media platforms like Twitter and Facebook.
Truth Social is owned by TMTG, a technology company founded by Donald Trump. TMTG is a publicly traded company on the NASDAQ stock exchange under the ticker symbol "TRUTH".
Related reading: Donald Trump's Truth Social Starts Trading on Tuesday.
Key Facts
The stock of Truth Social, the social media site parent, has gained about 85% over the last month.
Trump's social media nest egg now accounts for $3.9 billion of his $6 billion net worth.
The stock suffered a steep decline in late afternoon trading, turning negative and briefly getting halted before recovering to a 5% gain.
Trump's net worth took a $40 million hit on the day, closing down 1% at $33.94 per share.
Trump is now the 540th-richest person in the world, according to Forbes' estimates.
Truth Social Launch
Truth Social launched in February 2022.
The app was created by Trump Media & Technology Group (TMTG), a company founded by former US President Donald Trump.
Truth Social is a social media platform that allows users to share posts, photos, and videos.
It's available for download on both iOS and Android devices.
The app is designed to be a free-speech alternative to other social media platforms.
Truth Social has a user-friendly interface, making it easy for people to navigate and use.
The app allows users to follow other accounts, share content, and engage in discussions.
Truth Social's launch was a significant event in the tech industry.
It sparked a lot of interest and debate about the future of social media.
The app's launch also raised questions about its business model and revenue streams.
Truth Social is a key part of TMTG's strategy to become a major player in the tech industry.
The company plans to use the app to build a loyal user base and generate revenue through advertising and other means.
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Regulatory Approval
The SEC has finally cleared the merger of Trump Media & Technology Group and Digital World Acquisition Corp.
This means that Truth Social is poised to make its Wall Street debut after years of delay. The only step left is for shareholders to approve the deal, which is largely seen as a formality.
The merger was delayed for years as regulators conducted a thorough inquiry, but it's now moving forward. DWAC shares were trading for just over $49.50 on Friday morning.
That puts the value of Trump's stake at roughly $4 billion, assuming he owns 79 million shares of the company. Lock-up rules would prevent him from accessing any of that money until six months after the merger is complete.
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