According to a press release from the former president and a CNBC report, Donald Trump’s new technology company has raised $1 billion from investors. But there is no way to independently check whether Trump, a man known for lying about everything, can really get such a huge amount of money in a relatively short period of time.
“US$1 billion sends an important message to large technology companies that censorship and political discrimination must end,” Trump said in a statement. Press release.
“The United States is ready for TRUTH Social. This is a platform that will not discriminate based on political ideology. As our balance sheet expands, TMTG will be in a better position to counter the tyranny of large technology companies,” Trump continued.
Trump announces his return for the first time October He founded a company called Trump Media and Technology Group (TMTG), which plans to launch a social media platform called Truth Social in the first quarter of 2022. TMTG also plans to go public through a special purpose acquisition company (SPAC).
The SPAC transaction will allow TMTG to merge with a shell company called Digital World Acquisition Corp., which exists to protect Trump’s technology companies from the normal financial disclosures required for traditional IPOs.
After announcing Truth Social, Trump promised to launch and run a beta version of the social media platform by November. But if you check the calendar, you will notice that it is now December 6. And there is no evidence that the beta version of the site has been launched.
According to reports, Wall Street has basically avoided Trump NBC Finance Channel, But it is entirely possible for the former president to raise funds through wealthy private individuals. Obviously, there is no shortage of fascists among the super-rich.
Reuters reported earlier last week that Trump’s new company has been trying to “sell stocks to hedge funds and family offices at several times the valuation obtained in October’s transaction with a blank check acquisition company.” To raise funds, two people reportedly said that they were “familiar with this matter.”
But Reuters pointed out that if Washington’s recent statement was Any sign:
Some hedge funds that support the launch of Digital World, including Saba Capital Management and Lighthouse Investment Partners, have stated that they have sold their shares to distance themselves from Trump’s deal.
The transaction also faces regulatory risks. US Senator Elizabeth Warren last month asked US Securities and Exchange Commission Chairman Gary Gensler to investigate the planned merger because the disclosure may violate securities laws. The US Securities and Exchange Commission declined to comment on whether it plans to take any action.
Trump lied about countless things during his presidency, but as a businessman, he lied more in his private life, and he constantly adjusted the numbers to make himself look rich.In fact, in the 1980s and 1990s, probably no American lost more money than Trump, according to New York TimesThis is a completely empty shell game, and there is absolutely no reason to believe that Trump’s latest adventure will exist on a more stable financial basis.
As the spy magazine pointed out year 1991“A gangster who knows Trump once said to him on social occasions,’He will lie to you about the time of the day-just to practice.'” Think of Trump’s recent social media adventure as an exercise ——This approach can cost him a penny.