Donald Trump’s social network goes public, and could double the former president’s assets

Everyone knows the big social networks Instagram, Facebook or X, the renamed Twitter that for a few months has belonged to tycoon Elon Musk. The social network that was previously identified with a blue bird, however, is not the only platform that belongs to a billionaire businessman, since the controversial social network Social Truth It was launched in 2021 by a Donald Trump company.

With this social network, The Republican tried to combat the supposed censorship and media control that the Republican considered that affected social networks mainstream. 3 years after its launch, the company’s listing on the stock market could provide an economic boost for the tycoon, who could double his assets thanks to the increase in the value of the shares of Trump Media, parent company of Truth Social.

From regular performance to a good stock market debut

Despite its lukewarm reception – according to Forbes, Trump’s network is used by fewer than 2 million users -, Social Truth has experienced a financial resurgence that will provide the presidential candidate with great financial muscle: since this Tuesday, the parent company of Trump Media and Technology cgoes public along with the instrumental company Digital World Acquisition, created to promote the exit of this corporation on the Nasdaq market.

The financial expectations of this IPO they are through the cloudsWell, as reported Europa PressDigital World shares They shot up 24% last Monday, one day before the official listing of this company: Donald Trump could now control 60% of the shares of the new company, which could generate profits of 3.3 billion dollars.

This is a not insignificant figure for Trump – immersed in an expensive presidential campaign and numerous lawsuits – since CNN has indicated that, for the first time, andThe former president has been included in the list of the 500 richest people in the world prepared by the Bloomberg News agency: it is estimated that Trump could go from having a net worth of 2,000 million to an even greater fortune of $6.5 billion.

Truth Social turns Trump’s fortunes around

Last year, Trump’s assets plummeted 19%, and numerous analysts pointed out the loss of value of the offices owned by the magnate as the cause, as well as the poor commercial performance of Truth Social: A year later, it seems that the social network is making a comeback, still maintaining a strong ideological character. According to CNN, various experts warn that Trump Media’s capacity is being overratedtaking into account the background of this big tech.

“As a public company, we will passionately pursue our vision of building a movement to recoverr Internet censorship Big Techhas declared without the advisor of Trump Media, Devin Nunes, after the corporation’s IPO.

“We will continue to fulfill our commitment with Americans to serve as a safe harbor for free expression and confront the ever-growing army of speech suppressors,” added Nunes, who served as a Republican congressman in California between 2003 and 2022.

Trump vs Twitter

The almost personal war between Trump and social networks began on January 9, 2021, three days after the assault on the US Capitol perpetrated by ultra-conservative fanatics. That day, the social network Twitter decided to permanently suspend the personal account of the outgoing president, who after losing the elections used his profile to spread conspiracy theories. and deny the electoral result that brought Biden to the White House.

After suspension of your account for “incitement to violence”Trump criticized the company, ensuring that it was an attack on the “freedom of expression”. A year later, Trump launched Truth Social, and only returned to his Twitter profile – reactivated after Musk’s acquisition of the network -, to publish the photograph of his arrest in August 2023.

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A portion of the Truth Social user base This social network shares it with Gab or the extinct Parler, other social networks “alternatives” in which Trump’s electorate and the extreme right have great weight.

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