Truth Social has lost $73 million since its inception

Truth Social, the social networking platform of former US President Donald Trump, has already suffered a loss of $ 73 million. The social networking site has been in existence since February 2022.

According to some tax documents, the loss was already approaching $50 million at the end of 2022. There came this year according to Reuters at least $23 million in losses. The company’s accountants have reportedly raised concerns about Truth Social’s financial condition and future.

The social medium was founded in February 2022 at the initiative of former American President Donald Trump. Trump was removed from various social media in January 2021 following the storming of the US Capitol by Trump supporters. Truth Social has been available via iOS since February of last year and can also be found in Google’s Play Store since October 2022. The app’s code is based on Mastodon, a long-running project for an open source social media platform. In May of 2022 the platform had Reportedly 2 million active users.

Update, 1:50 p.m.: Title changed. It was originally: ‘Social networking platform Truth Social already made a loss of 73 million dollars’

Truth Social