Want to do business with Donald Trump?
The former President’s hotels and casinos have declared bankruptcy a total of six times. Leaving over 4,000 staff, unemployed, with no severance pay and dozens of contractors unpaid and taking legal action. His short-lived airline crashed. He has paid out millions of dollars to settle multiple lawsuits – many, for running an unlicensed “university” that the conservative National Review called a “massive scam”. And then there is the Trump Organisation’s looming criminal trials – including tax fraud.
For all that, a business built around Trump’s famed ability toIncite action from millions of people online must have seemed a good bet to those who poured money into backing the company behind his rival to Twitter, Truth Social.
Now that too has run into trouble as more than a billion dollars in investment has stalled amid shareholder hesitation and a federal investigation into whether Trump Media and Technology Group broke the law in its dealings with a company set up to provide the money.
As so often with the former President, it’s not immediately clear what is going on.