While a SPAC merger to take the company public drags on, Truth Social, the social media platform founded by Donald Trump, has earned just $1.2 million in advertising since its February 2022 launch, according to Trump’s July 6 financial disclosure, The Messenger.com reports.
Trump’s latest filing was an update to an earlier one submitted in April with the Office of Government Ethics that showed far less precise information about his finances, according to The Washington Post.
Truth Social launched in February 2022, billing itself as a “free speech” alternative to such popular social media platforms as Twitter and Facebook, which had banned the former president after the Jan. 6 attack on the U.S. Capitol.
Twitter reported advertising revenue of $1 billion in the second quarter of 2022, according to the final quarterly filing it made before being acquired and taken private by Elon Musk last year. Meta, which includes Facebook and Instagram, recorded $28.1 billion in advertising revenue across its services for that same period.
Digital World Acquisition, the SPAC trying to take Trump’s company public, filed an amended proxy today seeking up to another year to complete the deal, which was announced in October 2021. Read more.
