...but hey, do what you want...you will anyway.Just six months after its chaotic launch, it looks as if Donald Trump’s social media network could be on the verge of collapse. As first reported by Fox Business, Truth Social allegedly owes about $1.6m to RightForge, the internet infrastructure company that hosts the app. Paying that back might be tough since Truth Social doesn’t seem to make money and is facing a number of problems, including declining traffic and the recent denial of its trademark applications. Trump Media & Technology Group, Truth Social’s parent company, is also embroiled in a federal investigation about whether it violated securities laws.
[...]
On Monday, the former president said that rumours of Truth Social’s demise are greatly exaggerated. And, to be fair, while multiple reputable news outlets have reported that Truth Social hasn’t paid RightForge since around March, the CEO of the hosting company – which targets its services at conservatives – hasn’t publicly confirmed these reports. Instead, Martin Avila told Fox Business that RightForge “believes in the mission of President Trump’s free speech platform”. Believing in free speech can be very expensive, I guess.
[...]
A 2016 USA Today investigation found that Trump has been involved in more than 3,500 lawsuits over the past three decades – a large number of which involve small contractors, who say Trump or his companies refused to pay them. Rather than being embarrassed about avoiding his contractual obligations, Trump wears his stinginess like a badge of honour. He has told reporters that he will frequently refuse to pay bills in an attempt to negotiate them down. For normal people, reneging on debt ruins your credit and gets you in a lot of trouble. For the likes of Trump – who has called himself “the king of debt” – it’s a money-making technique. “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing,” he has boasted.
Guardian
Wednesday, August 31, 2022
Does anything associated with Trump succeed (or pay its bills)?
Labels:
Trump finances,
Truth Social
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