Despite this, its market value is above $7 billion (£5.6 billion), which is remarkable Donald Trump’s considering the company that created it.
What then is the Truth Social platform, who controls it, how many people use it, and what is its revenue stream? Is it also the solution to Mr. Trump’s mounting legal expenses?
The Trump Media & Technology Group was established in 2021 following Mr. Trump’s temporary exclusion from popular social media sites, including Facebook and Twitter, due to allegations that he had incited violence following his loss in the presidential election.
Two men who had competed on his reality TV show, The Apprentice, presented him with the concept. They recognized a chance to develop a social media platform different from the popular ones.
The social media platform Truth Social was the first—and thus far only—product that Trump Media released to the general public in 2022.
Truth Social and X share much of the same functionality. Users can send direct messages and submit “truths” or “truths.” Conversely, advertisements are known as “sponsored truths.”
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