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Trump’s Business Failures Raise Red Flags For Potential Truth Social Investors

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SPAC Digital World is seeking to merge with Trump Media Group, the company that owns Truth Social, and has actually voiced concerns over the merger and working with Trump due to his past history of bankrupting previous companies. Trump’s numerous business failures may be the key reason why the acquisition doesn’t go through. Ana Kasparian and John Iadarola discuss on The Young Turks. Watch LIVE weekdays 6-8 pm ET. http://youtube.com/theyoungturks/live

Read more HERE:
https://www.businessinsider.com/donald-trump-truth-social-bankruptcy-warning-spac-filing-digital-world-2022-5

"The company buying Donald Trump's social network Truth Social has warned investors about the former president's history of bankruptcies and business failures.

In a regulatory filing Monday, Digital World Acquisition Corp highlighted the bankruptcies of Trump Taj Mahal, Trump Plaza, and Trump Castle, and the failures of Trump University, Trump Vodka, and Trump Steaks, among others.

Digital World, a SPAC or "blank-check" firm, is seeking to merge with Trump Media and Technology Group (TMTG), the owner of Truth Social. Trump himself would control between 47% and 58% of the merged company and would serve as its chairman, Monday's filing shows.

Digital World said in its filing: "A number of companies that were associated with President Trump have filed for bankruptcy. There can be no assurances that TMTG will not also become bankrupt.”"

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220518__TB03Truth
Category
Europe
Tags
220518__TB03Truth, News, Politics
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