A lot of money for Trump’s non-existent social network

It can always be crazier. And that proves once again now that ex-President Trump, in his own words, has received a lot of money for a non-existent social network!

Money is everywhere. And some people are full of it. Investing is then a good option to let the money ‘grow’. Donald Trump, the ex-president of America, can help with that. At least, that’s what he thinks himself. Several rich people believe him and put money into a (non-existent) social network.

Trump Social Network

The social network called TRUTH of the former US president said in a press release that it has received $1 billion in funding. This comes from a “diverse group of institutional investors”, without disclosing names. Following the deal, the Trump Media and Technology Group (TMTG) is reportedly valued at $4 billion. Still handsome.

That’s quite a lot of money. Especially when you consider that Facebook took over Instagram for the same amount in 2012. Trump’s social network and his media group were officially announced in October. At the time, the company said it would launch the website and app in November by invitation only. But clearly it missed the deadline. Uncertainty everywhere. What we do have are some images of what the network might look like.

TRUTH

Trump is often angry. On everything and everyone. TRUTH was therefore announced with the lofty goal of fighting “the tyranny of Big Tech”. The company wants to open the network to the public in 2022, but they probably won’t meet that deadline either.

Trump is still banned from Twitter, Facebook and all major social networks of the world. So he doesn’t really have an internet megaphone to shout out his thoughts at this point. He would love to do that on this new network, but will it ever really get off the ground…