Did any private equity underwriters (PEU) put their investor money in Donald Trump's Truth Social via DWAC's $1 billion PIPE (private investment in public equity)? Blackstone's Stephen Schwarzman served as a close Trump advisor. Carlyle Group co-founder David Rubenstein rues not putting money into Facebook.
The greed and leverage boys have long paid for close political access. However, Donald Trump's penchant for bankruptcy could restrain those charged with making investor returns.
Could PEU investors find value in Truth Social? They could combine their tendency to reduce headcount with Trump's signature line, "You're fired!" Rather than Zoom and e-mail employees being fired before Christmas, the PEU boys could Truth Social them away from gainful employment. Look for that functionality if the greed and leverage boys are all in.
Update: Rep. Devin Nunes (Red Team-CA) will resign his House seat to take the reigns of Trump Media and Technology Group.
Update 12-10-12: Former President Donald Trump lashed out with profanity at Benjamin Netanyahu for congratulating President Joe Biden on his victory in the U.S. election, an Israeli newspaper reported Friday. Trump said "F—- him" in reference to Netanyahu.
Update 8-15-22: DWAC needs an extra 12 months to close on Trump's Truth Social.
Update 11-13-23: Truth Social got a "going concern" warning from its accounting firm.
Truth Social lost $50 million on just $1.4 million of net sales in 2022, and through the first 6 months of this year it brought in $2.3 million, but lost $23 million.
