Former President Donald Trump hit the jackpot this spring when his social media company finally went public.
Even though Trump Media & Technology Group DJT generates very little revenue, investors are assigning an eye-popping valuation north of $9 billion to the company. Trump’s dominant stake in Trump Media is now valued at nearly $6 billion.
Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller.
Truth Social’s average number of daily active US users on iOS and Android dropped by 19% year over year in April to about 113,000, according to data shared exclusively with CNN from Similarweb, a data intelligence company.
Got to hand it to this guy. He pulled billions of dollars out of a hat. And just when things were starting to look pretty bad.
Now he can basically afford to pay his way out of any penalty. Must be nice to be able to do that.
He was bailed out, again.
He was already bankrupt before running for presidency and Russia bailed him out.
Now he is being bailed out by China.