Digital World highlighted the failures of Trump’s business

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Digital World highlighted the failures of Trump’s business
18 May 2022
6 min read

News Synopsis

Investors have been warned about Donald Trump's history of bankruptcies and economic failures by the company that is buying his social network, Truth Social.In a regulatory filing on Monday, Digital World Acquisition Corp cited the failures of Trump University, Trump Vodka, and Trump Steaks, as well as the bankruptcies of Trump Taj Mahal, Trump Plaza, and Trump Castle.

Trump Media and Technology Group (TMTG), the owner of Truth Social, is attempting to merge with Digital World, a SPAC or "blank-check" corporation. According to the document, Trump would own between 47 percent and 58 percent of the combined company and would serve as its chairman.

In its filing, Digital World stated: "Several companies linked to President Trump have declared bankruptcy. There can be no guarantees that TMTG will not go bankrupt as well." It went on to say: "Several businesses that had licence arrangements with President Trump have fallen through. There can be no guarantees that TMTG will succeed." It added: "While all of the foregoing were in different businesses than TMTG, there can be no guarantee that TMTG's performance will exceed the performance of those entities."

Trump committed to post on Truth Social six hours before making comparable postings on other networks, according to the document. Trump, on the other hand, is free to post from any platform at any moment for "political message."

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