Will Trump Sell His Shares of Truth Social Media Company?

 

Donald Trump's Truth Social

At a recent press briefing in Rancho Palos Verdes, California, former President Donald Trump was asked a question that has been on the minds of many of his followers and critics alike: will he sell his shares in the Truth Social media company, the platform he founded after being banned from several mainstream social media outlets? With the company's shares having plummeted by 75% from their peak in March, speculation around his plans has been rife. However, Trump quickly dispelled any rumors of a potential sale.

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Trump's Firm Stance: "I'm Not Selling"

When asked about the sharp decline in the company’s stock and whether he plans to divest, Trump was unequivocal:

"No, I'm not selling, no. I love it," he responded with conviction. Trump went on to explain that Truth Social serves as a vital communication platform for him, stating, "I use it as a method of getting out my word." For Trump, the platform is more than just a business venture — it is a direct line to his followers and a tool for maintaining his public voice.

The SEC and Stock Drop

Truth Social’s initial performance on the stock market was remarkable. Trump pointed out the meteoric rise in its value when it first launched, saying, "When it opened, it went way high." However, Trump claimed that subsequent interference from the Securities and Exchange Commission (SEC) caused the company to endure a long and challenging approval process, resulting in the stock's eventual decline.

“The SEC gave us nothing but problems... We had to go through a long, long process with the SEC,” Trump explained, emphasizing the regulatory hurdles his company faced. He attributed the stock's fall to the perception that he might be stepping away from the company, which he quickly clarified is not the case.

"People think that I'm leaving. That's why they're down. Because if I leave, it's different," Trump said, addressing rumors head-on. "But I'm not leaving. I love it. I think it's great. Mechanically, it works the best."

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Trump's Relationship with Elon Musk and X (Formerly Twitter)

In a surprising revelation, Trump acknowledged his friendly relationship with Elon Musk, the owner of X, formerly known as Twitter, the platform where Trump once had a massive following before his ban.

“I’m friendly with Elon, and Elon would love me to come over to X,” Trump said. He reminisced about the days when his account on X (then Twitter) had over 230 million followers, far surpassing most other users. “I had 230 million people on X, and then they shut me down, and I said I'm not going to let that happen again,” Trump continued. He also highlighted his massive followings on other platforms like Facebook and Instagram, recalling a conversation with Mark Zuckerberg where the Facebook founder told him, "Congratulations, you're number one on Facebook."

Despite Musk's overtures, Trump appears content with Truth Social, reiterating that his platform serves as a vital outlet for his opinions and statements.

A Personal Project, Not a Financial One

Trump made it clear that Truth Social was not primarily launched as a moneymaking venture. Instead, it was born out of necessity following his removal from major social media platforms.

“I built this platform because I don't want to have my voice shut down,” he stated. Trump further elaborated that, despite the platform's struggles with the SEC and the stock's volatile performance, he has no financial incentive to sell. "They're worth billions of dollars, but I don't want to sell my shares," Trump insisted. "I don't need money, and for me, it's a great voice."

The Future of Truth Social

While Trump was optimistic about the future of Truth Social, he did acknowledge that many investors and followers have expressed concerns that his potential departure would significantly impact the platform's success. "A lot of people think the reason it's down is that... a lot of people think I'm going to sell. If I sell, it wouldn't be the same, and I could understand that," Trump remarked, sympathizing with the fears of his loyal users.

However, he was firm in his declaration that he has no intention of divesting his stake in the company. "But I have absolutely no intention of selling," Trump reiterated, making it clear that he intends to continue using Truth Social as his primary platform for communication.

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Conclusion

Donald Trump's Truth Social platform has been the subject of much debate since its inception, especially as it battles regulatory challenges and declining stock prices. Yet, Trump’s commitment to the company remains steadfast. With no plans to sell his shares, Truth Social will likely continue to be his personal platform for expressing his views and engaging with his followers, ensuring that his voice remains loud and clear in the digital sphere. Whether this assurance will be enough to reverse the platform’s financial fortunes remains to be seen.

Top 10 FAQs

1. What is Truth Social?

Truth Social is a social media platform founded by Donald Trump after he was banned from major platforms like Twitter, Facebook, and Instagram. It was designed to provide an outlet for him and others who felt their voices were being stifled.

2. Why did Donald Trump create Truth Social?

Trump created Truth Social to ensure that his voice and views would not be censored after he was banned from mainstream platforms. The platform allows him to communicate directly with his followers without external restrictions.

3. Why are Truth Social’s shares down 75% from their peak?

Truth Social’s stock experienced a steep decline due to several factors, including a lengthy approval process with the Securities and Exchange Commission (SEC), investor concerns, and rumors that Trump might sell his shares.

4. Is Donald Trump planning to sell his shares in Truth Social?

No, Donald Trump has publicly stated that he has no intention of selling his shares in Truth Social. He remains committed to the platform and its mission.

5. How much are Donald Trump’s shares in Truth Social worth?

Trump has indicated that his shares are potentially worth billions of dollars, although the current valuation has dropped significantly from its peak.

6. What caused the drop in Truth Social’s stock price?

The stock price declined due to regulatory issues with the SEC, market uncertainty, and speculation that Trump might leave the company or sell his shares, which he has denied.

7. Is Donald Trump still active on Truth Social?

Yes, Trump is still active on Truth Social and continues to use it as a platform to communicate with his followers. He emphasizes that it is his primary outlet for sharing news and opinions.

8. How does Truth Social compare to other social media platforms?

Truth Social is much smaller compared to platforms like X (formerly Twitter) or Facebook. However, Trump claims that it is a strong platform mechanically and works well for him, even though he has a much larger following on X.

9. Is Donald Trump considering rejoining X (formerly Twitter)?

Although Trump has a friendly relationship with X's owner, Elon Musk, and acknowledges that Musk would like him to return to the platform, Trump has stated that he remains committed to Truth Social and is not planning to return to X.

10. What is the future outlook for Truth Social?

While Truth Social has faced challenges, including stock price declines and regulatory hurdles, Trump is optimistic about the platform’s future. He believes that as long as he continues to use it as his primary voice, it will remain successful.