Analysis by Summer Lane | Photo: Alamy
President Trump has a track record of fighting for success, again and again, and it is this trait that inarguably has defined his colorful business career in New York City and the world.
Trump has experienced extreme success and even dramatic defeat, but in his 1997 book, “The Art of the Comeback,” he detailed how he rode the wave through the highs and lows. Now, his battle against the Washington swamp appears to be another trial by fire – and it’s a trial that has benefited him in many ways, despite mainstream attacks and leftist critics.
In 2022, Trump took a chance to launch a free-speech platform called Truth Social after he was booted from mainstream platforms like X and Facebook following a rash of censorship that kicked off in early 2021.
After two years of delays throughout the SEC review process, the Trump-owned parent company of Truth Social, Trump Media & Technology Group (TMTG), finally merged with Digital World Acquisition Corp. (DWAC), allowing the company to hit the Nasdaq exchange for public trading.
RSBN previously reported that the stock spiked upward rapidly upon its entrance onto the market, at one point swelling the company’s market value to $9 billion. The uptick in value for Trump’s company also ballooned his own net worth upward of $7 billion.
Critics have claimed that Trump’s free speech platform didn’t have a chance, and late-night comedians have tried to use Truth Social as the butt of threadbare jokes. Even this week, “The Tonight Show” host Jimmy Fallon took a potshot at Trump, remarking that at the president’s latest Wisconsin rally, “Trump’s so broke he sold the podium for $5,000.”
Clearly, in light of Trump’s rapid wealth gain, Fallon’s jokes are not just unfunny – they’re patently untrue. The president played the long game with Truth Social, and it’s already beginning to pay off.
This week, TMTG filed a 10-K report that revealed that the company has zero debt, which is no small feat. They also reported a nest egg of $200 million in the bank, presenting a blue sky of opportunity for the platform to expand.
Trump explained on Thursday, “If it didn’t work, or properly get the word out, I wouldn’t use it – But it does work, and work really well – And the fun is just getting started!!!