Fox News Media and Newsmax Media have aligned with Donald Trump's Truth Social, potentially providing him with a $3 billion bounty. Despite Truth Social's initial revenue of $3.4 million and $49 million in losses, critics overlook the history of unprofitable companies like Twitter before going public.
On Monday, Fox News Media and Newsmax Media boldly aligned their fortunes with Donald Trump 's Truth Social , ratifying a pact poised to endow the erstwhile and potentially returning commander-in-chief with a bounty verging on $3 billion. This alignment underlines a broader narrative that eludes the casual observer, particularly as Trump Media & Technology Group, the progenitor of Truth Social , disclosed revenues barely eclipsing $3.
4 million in the initial nine months of 2023 against a backdrop of $49 million in losses. The chattering classes, in their usual glee at anything they think of as a black mark on the record of the big bad orange man, have been quick to herald these figures as omens of the platform's distress. Yet, such a reading misses the forest for the trees, ignoring the storied path of Truth Social's predecessor. When Twitter went public back in 2013, it was a deeply unprofitable company. It had incurred somewhere in the neighborhood of $400 million in losses before going public, including losing $79 million the year before its initial public offering
Fox News Newsmax Donald Trump Truth Social Pact Revenue Losses Twitter Public Offering
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