The former president is tapping into his base of billionaire supporters, while also looking raise $3.4bn from selling his Truth Social shares
Facing an eye-watering $454m fine over civil fraud charges in New York, Donald Trump has a beady eye on some lucrative fundraising schemes.
But though it might be valued at more than $3bn, that doesn’t necessarily mean that Truth Social is a money making machine.David Kemmerer, founder and CEO of cyptocurrency accountancy firm CoinLedger, said that the “crazy” valuation of Truth Social was down to three metrics, “attention, community, and speculation”, rather than traditional financial metrics such as profitability.
Even if the merger deal doesn’t fix Mr Trump’s financial troubles, hedge fund billionaire John Paulson is set to hold a fundraiser for him next month, with America’s uber rich paying up $814,600 for the most expensive ticket. A Donald Trump impersonator stands outside The Trump Tower building on March 1, 2024 in New York City.
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