the social network Truth Social offers a breath of financial oxygen to Donald Trump

Jostled on all sides, this IPO boosts the precarious financial health of the candidate for the White House.

In the United States, Donald Trump can exult. Or at least, for now. The value of its social network has exploded since its IPO on Tuesday March 26. The Truth Social platform, created following the former president’s ouster from Twitter in 2022, nevertheless loses more money than it brings in. But that doesn’t matter: it has already allowed the billionaire to return, in two days, to the ranking of the 500 greatest fortunes in the world.

At around $62 per share, and despite a drop during the day, the Trump Media company was worth more than eight billion dollars on Thursday, March 28, almost half of which was in the former president’s pocket. But be careful not to claim the jackpot too quickly: Donald Trump, firstly, may not be able to sell his shares within six months.

Almost 50 million losses

And these shares risk losing value, as the weight of Truth Social on the markets seems to be a smokescreen. Between January and September 2023, the network only generated $3.45 million… and it also lost $49 million. But Donald Trump is undoubtedly benefiting, for the moment, from the fervor of his supporters who want a piece of the Trump pie, like this “divine” business: to repay his debts, the former president has just launched into the sale of $60 Bibles.

The network also benefits from the calculations of investors, who certainly hope to see the Republican return to the White House, thus propelling Truth Social much higher. But for that, we will have to wait until the election in November. And a lot can happen between now and then. If the New York justice system on Monday eased the financial pressure on the Republican presidential candidate by reducing his bail in civil proceedings to $175 million, it refused to further postpone his historic criminal trial, which will begin on the 15th. april.