![]() That, of course, was when DWAC’s shares were trading at over $50. Back in April 2022, Forbes estimated that Truth Social had helped to increase Trump’s net worth by nearly $500 million. The only counter is that Trump has a major financial interest in Truth Social. Given everything we know about Truth Social, that would suggest that Trump would want to come back to Twitter ASAP. Which makes for a MUCH broader level of influence for Trump – particularly as he begins his 2024 presidential run. While Twitter is not exactly on solid ground these days, it looks positively calm compared to Truth Social.Īnd business aside, Trump has nearly 90 million followers on Twitter compared to just 4.6 million followers on Truth Social. ![]() There is some suggestion that if the delay is not approved Tuesday, DWAC will simply liquidate itself. And they are down more than 60% this year.Ģ) DWAC has been besieged by legal and regulatory troubles, including a whistleblower complaint filed in August.ģ) A shareholder meeting is set for Tuesday at which there is supposed to be a vote on delaying the merger of Truth Social and DWAC by roughly a year. There are several problems there, however.ġ) Shares of DWAC have plunged, down nearly 30% over the past three months as of Monday, in part because of Musk buying Twitter. Trump’s plan has been to take Truth Social public by merging its parent company, Trump Media & Technology Group, with a special purpose acquisition company (SPAC) called Digital World Acquisition Corp. It’s a little complicated but stay with me here. Especially when you consider that Truth Social is arguably at its weakest point since it launched earlier this year. In the next sentence, Trump told his followers that “we aren’t going anywhere. Take his message from over the weekend, when he urged his supporters on Truth Social, a copycat version of Twitter that Trump started after his presidency, to vote with “positivity” in Musk’s Twitter poll on whether the former president should be reinstated. ![]() Which puts the ball now firmly in Trump’s court.Īnd, not surprisingly, Trump is giving mixed signals about whether he will return to Twitter. “Vox Populi, Vox Dei.”Īs of Monday morning, Trump’s Twitter handle – – was back on the service, along with his 87.4 million followers. Trump will be reinstated,” Musk tweeted Saturday night. ![]() Musk left the decision to an online poll he posted on Twitter. Less than a month after officially buying Twitter, Elon Musk made good on one of his long-standing pledges: He un-banned Donald Trump from the social media platform. ![]()
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