Trump’s Truth Social Lost $58 Million in 2023, Despite Multi-Billion Dollar Valuation

After launching Truth Social, the social media platform he founded following his Twitter ban, former President Donald Trump saw a significant financial boost as the company went public.

With Trump holding a substantial number of shares, valued at billions of dollars, questions arise regarding the company’s fundamentals.

Despite low revenue of $4.1 million in 2023 and a net loss exceeding $58 million, mainly due to debt, the stock’s true value remains uncertain.

Trump is prohibited from selling his shares for six months, leading analysts to speculate about potential stock price fluctuations, Mediaite has reported.

READ MORE: https://www.mediaite.com/news/new-trumps-truth-social-lost-58-million-in-2023-despite-multi-billion-dollar-valuation/

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