Since Donald Trump founded his social media platform, Truth Social has launched. in FebruaryThe site’s financial origins are shrouded in layers of mystery. estimated at $1 billion Funding is in progress, but the funds will not be accessible until successful publication. During that time, Trump’s media business owed about $38 million in debt, according to SEC filings, and the money didn’t come from Trump himself.
Finally, we have some answers. report From Reuters. Oil tycoons with political ties, former Trump appointees and staff chatters, and your general wealthy business owners have pooled their resources together.
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In August, William Wilkerson, former co-founder of Trump’s media company, Trump Media & Technology Group (TMTG), said: Filed a whistleblower complaint with the Securities and Exchange Commission (SEC) against his employer sketchy shell company Trying to expose the real society.Earlier this month, Wilkerson Exposed as a whistleblowerAnd now some of the documents Wilkerson shared with the SEC have come to light.
According to these filings, as first reported by Reuters, some of the major truth investors are listed below.
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Karl PfluegerPresident of Texas oil company Orix Midstream and brother of Congressman August Pflueger. one of many Politicians who voted against proving the results of the 2020 elections and only recently started receiving them donation dollar From Amazon’s Corporate PAC.
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Patrick Walshthe CEO of Empire Holdings, the company that manages multiple gym brands, invested $6.2 million in Truth.
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Kenny TroutTexas Telecom Billionaire donated Trump previously forked over $4 million for the truth.
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Roy Baileyco-chairman of the Finance Committee since Trump’s 2016 election campaign lobbyist Donated at least $200,000 towards truth for the regime.
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George GlassThe Oregon real estate developer was appointed US ambassador to Portugal during President Trump’s presidency, investing at least $500,000.
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Bob McNuttis the CEO of a mail-order fruitcake company that donated just $100,000 to Trump’s social media platforms.
Apparently, it’s still missing about $10 million. According to Reuters, Wilkerson’s whistleblower documents contained promissory notes worth about $9.4 million, the source of which could not be determined.
Trump’s truth apparently has a wealthy and powerful following, but the platform is still struggling multiple federal investigationsAttempts to go public have been delayed by these investigations, with investor support seemed to be declining in the last few months.The shell company did its best to demote social media sites from office space last month UPS store mailbox.
Especially since Elon Musk bought Twitter. finally completed, Trump could return to his former favorite platform. On Twitter, the former president once said he had more than 88 million followers, while on Truth he had only about 4 million. permanent banishmentAs long as his media company survives, Trump will contractually obligated But he also has time to tweet. So it’s unclear to what extent he will continue to prioritize growing Truth’s investor base and audience.
Following news of Musk’s takeover, Trump posted to The Truth on Friday, saying, “I am very pleased that Twitter is now in the hands of sanity and no longer run by radical left-wing fanatics and maniacs. In the post, he expressed his enthusiasm for both platforms.
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