Market Update

Trump’s ‘Truth Social’ gets big investment

Former US President Donald Trump’s new social media app ‘Truth Social’ is going to be launched early next year. Apart from raising investment, the app is also going to be listed in the stock market. To that end, 1 billion US dollars or 6,600 crore rupees (with an exchange rate of 7 rupees per dollar) has already been collected. News from the BBC.

Trump’s Media and Technology Group said last Saturday that it had raised the money from various institutional investors. With this, the market value of this new social media app has stood at 400 crore dollars or 34 thousand 400 crore rupees.

Former US President Donald Trump, who was “annoyed” on Facebook and Twitter, had earlier spoken of launching a new social media platform. He made the announcement after being banned from Twitter and Facebook following the January attack on the US Capitol. And now it is expected that the initiative will gain more momentum through large investments.

According to Trump’s company, 6 crore on his Twitter before the ban
9 million, 33 million followers on Facebook and 24 million followers on Instagram.

Meanwhile, Donald Trump has opened his mouth anew after receiving a multi-billion dollar investment. He says the money is sending an important message to big tech companies. That is, censorship and political inequality must end. On the new social media initiative, Trump said it would allow conversations “without discrimination on the basis of political ideology.” With this new investment, as our financial statements or balance sheets get bigger, the Trump media and technology group will be in a stronger position to fight the tyranny of the “big tech”.

Trump has announced that he will run again in the 2024 presidential election. The former US president wants to inspire supporters through these new apps as well as send a strong message to the opposition.

Thomas Williams

Thomas Williams writes related to the Business and Healthcare Category. He manages to cover anything thrown at him owing to his natural inclination towards Business and health. Thomas is our freelance contributor. Thomas is responsible for covering developments in finance and health categories topics.

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