{"id":56715,"date":"2023-04-15T10:55:03","date_gmt":"2023-04-15T17:55:03","guid":{"rendered":"https:\/\/www.newscorpse.com\/ncWP\/?p=56715"},"modified":"2023-04-17T11:32:09","modified_gmt":"2023-04-17T18:32:09","slug":"trump-made-less-than-200-on-truth-social-according-to-his-fec-financial-disclosure","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=56715","title":{"rendered":"Trump Made Less than $200 on Truth Social According to His FEC Financial Disclosure"},"content":{"rendered":"

Two days after the January 6th insurrection that Donald Trump incited, Twitter permanently suspended<\/a><\/strong> his account “due to the risk of further incitement of violence.”<\/em> Elon Musk later reinstated Trump<\/a><\/strong>, but he has not posted on Twitter since the suspension was lifted.<\/p>\n

Click here to Tweet this article<\/a><\/strong><\/p>\n

\"Donald<\/p>\n

In the meantime, Trump launched Truth Social, a pitiful Twitter clone where he could mouth off interminably and unconstrained by facts or decency. Not surprisingly, it has become just another failure in the Trump stable of ego-driven business ventures. That, however, didn\u2019t stop him and his minions from pretending that it was not only a success, but an Earth shattering advance in the evolution of the human race.<\/p>\n

RELATED: Devin Nunes Exalts the Failing Truth Social as \u2018The Most Important Creation in Trump\u2019s Career\u2019<\/a><\/strong><\/p>\n

In reality, Truth Social has been a fiasco on every level. It has lost money, failed to attract users, betrayed its promise of free speech, stiffed its vendors<\/a><\/strong>, and is mired in multiple legal quagmires. Currently Truth Social’s corporate holding company, Trump Media and Technology Group (TMTG), and Digital World Acquisition Corp (DWAC), the shell company created to take TMTG public, are being criminally investigated by a federal Grand Jury and the Securities and Exchange Commission. And DWAC’s stock has declined a whopping 87% in a little over a year.<\/p>\n

RELATED: Trump\u2019s \u2018Truth Social\u2019 Faces Legal and Financial Turmoil Amid Disclosures of Russian Funding<\/a><\/strong><\/p>\n

On Friday Trump finally filed his financial disclosure report<\/a><\/strong> to the Federal Election Commission – a month late after three extensions – and it contained some interesting details. Among them, Truth Social is valued at between $5 million and $25 million. Which is curious considering that DWAC has allegedly raised pledges of more than a billion dollars. However, none of that funding will go through if the deal to merge DWAC and TMTG fails to materialize, which looks doubtful.<\/p>\n

As for Trump, he was reported to own 90% of TMTG, which earned him less than $200 according to his financial disclosure. That’s hardly representative of the huge success that Trump has claimed Truth Social to be. To the contrary, it’s evidence that the platform is an abysmal failure, despite Trump’s utterly dishonest cheerleading.<\/p>\n

SEE THIS: Trump Posts Hysterical Lie that \u2018Everyone is Watching\u2019 His Failing Twitter Ripoff, Truth Social<\/a><\/strong><\/p>\n

The rest of Trump’s financial disclosure wasn’t much better. It revealed that his income was mostly generated from grifting operations such as his digital trading card NFTs<\/a><\/strong>, that earned him between $100,000 to $1 million. He also claimed to have more than $5 million in income from speaking engagements. And he reported royalties of between $100,000 and $1 million for his old book, \u201cThe Art of the Deal.\u201d<\/em> Although he also reported that most of his other books drew royalties of less than $200.<\/p>\n

Perhaps most troubling is that he claimed to have received $5 million in royalties from a Saudi real estate company to build a Trump hotel, villa and golf course in Oman. Note that he is not the builder. These are just royalties for the use of his name, for a project that may never get off the ground. So what are the Saudis really paying him for?<\/p>\n

What this financial statement reveals is something that longtime Trump watchers already know: He is a conman and a grifter and a failure who has never been the business genius he pretends to be. It also proves that he is nowhere close to being a billionaire, as he claims. But not to worry. His most ardent cult disciples will continue to believe that he’s the second coming of the messiah. Because that’s what cult disciples do. The rest of the nation – and the world – will see him for the fraud is, and has always been.<\/p>\n

RELATED STORIES:<\/p>\n