Democrats Attempting To Bankrupt Trump
They want to ruin the former president.
Forbes has reported that Donald Trump’s net worth has declined from $3.2 billion in the autumn of last year to an estimated $2.5 billion presently, following his indictment by a Manhattan grand jury last month.
According to Fox, There are charges against Trump for allegedly offering payments for the purpose of keeping someone silent prior to the 2016 US presidential election.
Trump recently took to social media and wrote, “THE RADICAL LEFT DEMOCRATS HAVE CRIMINALIZED THE JUSTICE SYSTEM. THIS IS NOT WHAT AMERICA WAS SUPPOSED TO BE!”
Truth Social, which was launched by Trump in late 2021, has resulted in an estimated loss of $550 million for him.
After Trump’s announcement to join Truth Social, supporters flocked to Digital World Acquisition Corp., the social media platform’s special purpose acquisition company (SPAC), causing the stock price to surge from $10 to $175 within 48 hours. The total valuation of the business was estimated at $22 billion, with Trump’s interest amounting to $19 billion.
During December 2021, a group of investors offered to provide $1 billion in cash to finance Truth Social, with a condition to receive a favorable agreement. The shares were valued at $45 in the open market during this period.
As per the terms of the agreement, fresh investors would be entitled to a profit if the shares remained above $10.
The Department of Justice, Securities and Exchange Commission, and Financial Regulatory Agency are currently reviewing the operations of the business, which includes scrutinizing trading activity and examining communications between the SPAC and Trump’s business.
Forbes’ data compiled on Monday indicated that Trump’s SPAC shares were trading at $14 each, which is 92% lower than their peak value. This suggests that the present valuation of Truth Social is just $1.2 billion.
Forbes has reported that Truth Social is presently gaining around 100,000 new users every month. However, at this rate, the platform will not attain its anticipated 81 million user count until the year 2086.
