Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Russian agency: Russia will conduct a nuclear test if the US does
Al-Nakhalah: We are the rightful owners, and we must fight to retrieve our rights
Al-Nakhalah: The enemy and its allies must know that we can never surrender to their terms and diktats after all the sacrifices made
Al-Nakhalah: The prisoner exchange clause can be completed in the next few days, and thus we will have pulled the [explosion] fuse and removed the enemy's justifications for aggression
Al-Nakhalah: The Resistance has expressed its willingness to negotiate on the basis that there are items that can be dealt with positively, the first of which is the prisoner exchange item
Al-Nakhalah: Trump's plan entails the Palestinian people's declaration of complete surrender to the enemy
PIJ Secretary-General, Ziyad al-Nakhalah, in an address aired on Al Mayadeen: The Resistance is engaging in a fierce negotiating battle under the so-called Trump plan
Russian Federation Council approves joint military cooperation agreement with Cuba
Al-Nunu: Today, the lists of prisoners required to be released, the agreed-upon criteria and numbers, were exchanged
Al-Nunu from Sharm el-Sheikh: Negotiations focused on mechanisms for implementing an end to the war, the withdrawal of occupation forces from the Gaza Strip, and the exchange of prisoners

Trump's Truth Social app in a financial pickle

  • By Al Mayadeen English
  • Source: Agencies
  • 26 Aug 2022 09:05
3 Min Read

With just a modest start of six months, the platform Truth Social already owes $1.6 million.

  • x
  • Former president Donald Trump (Getty)
    Former President Donald Trump

Fox Business Network reported Thursday that Trump's social media platform, Truth Social, has halted payments to the company that hosts it, RightForge, and owes it $1.6 million.

A RightForge spokesman would not comment on the reports that Truth Social is not paying its bills.

"RightForge was on the ground floor of building Truth Social and will continue to support President Trump in his endeavors," the company stated.

Meanwhile, the parent company's merger with Digital World Acquisition Corp (DWAC) - a blank check company formed specifically to carry out a merger - has yet to take place, 10 months after the announcement that it would happen. This fusion is supposed to bring in fresh funding for the Trump platform.

DWAC published Thursday a call for a special shareholder meeting on September 6 at which investors will be asked to approve a 1-year delay for carrying out the merger - until Sept 8 of 2023.

Related News

Trump 'trolling' democrats to ease public mood, House Speaker says

Trump gushes over Republican Sydney Sweeney's controversial jeans ad

However, without a favorable vote for an extension, the blank check company said it will be forced to dissolve.

Financial data published Thursday showed that as of late June, DWAC had only $3,000 in cash on hand. Truth Social bills itself as Trump's answer to platforms like Twitter, which the former President used as a political megaphone until he was ejected from it after a mob he had egged on assaulted the US Capitol in January 2021.

6 months later, in an Apple ranking of social media apps downloaded onto iPhones, it came in 30th place. The Statista database claims that Truth Social is downloaded only around 50,000 times per week, leading to a 550% increase in downloads since the Mar-a-Lago raids. 

Trump's account on Truth Social currently holds 3.91 million followers, whereas on Twitter he had 79.5 million when he was booted "due to the risk of further incitement of violence."

In December, TMTG raised $1 billion from private investors and was to receive $293 million in cash through a merger with DWAC, but the latter's activities have been under scrutiny from the US Financial Industry Regulatory Authority.

Shares in DWAC have fallen 71% since hitting their peak in early March, and the platform's parent company, Trump Media and Technology Group, has not responded to a request for comment.

  • TRUTH Social
  • Mar-a-Lago
  • Trump
  • Twitter

Most Read

Tucker Carlson speaks at a memorial for Charlie Kirk, Sunday, September 21, 2025, at State Farm Stadium in Glendale, Arizona (AP)

Tucker Carlson: Israeli officers gave orders on Iran inside Pentagon

  • Politics
  • 2 Oct 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
Mossad’s secret role in Aldo Moro’s 1978 murder revealed

Mossad’s secret role in Aldo Moro’s 1978 murder exposed

  • Politics
  • 5 Oct 2025
Al-Quds Brigades strike a command and control center north of Khan Younis, southern Gaza Strip, in an undated screengrab from the al-Quds Brigades military media

Gaza resistance announces major operations against Israeli forces

  • Politics
  • 1 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Retired Israeli General Brik says Israel has reached point of no return.
Politics

Retired Israeli General Brik: 'Israel has reached point of no return'

Depleted by foreign wars, US seeks to re-arm for another confrontation
Politics

Depleted by foreign wars, US seeks to re-arm for another confrontation

Gaza’s newborns gasp for life as hospitals collapse amid Israeli war
Health

Gaza newborns gasp for life, share oxygen masks amid collapsed system

UK arms exports to 'Israel' reach record high despite ban calls
Politics

UK arms exports to 'Israel' reach record high despite ban calls

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS