Trump Agrees to Use Truth Social as Primary Social Media Platform

Caitlin Huston
·3 min read
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Donald Trump has agreed to post on Truth Social before any other social media platform, as the new company views the former president as the centerpiece of its business model.

The disclosure comes in a filing related to the merger between blank check company Digital World Acquisition Corp. and Trump Media & Technology Group Corp., the parent company behind Truth Social. The merger would make Trump Media & Technology Group Corp. a public company, but comes with a number of risks related to Trump’s political and legal statuses.

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Trump is the chairman of the Trump Media & Technology Group Corp. The company is led by former congressman Devin Nunes, who has a base salary of $750,000, which can be increased to $1 million on his second work anniversary, according to the filing.

Truth Social is the first product created by the Trump Media & Technology Group Corp. and has positioned itself as a competitor to Twitter and Facebook, albeit with a focus on “free, and honest global conversation without censoring or cancelling users due to their political viewpoints,” according to the filing.

According to the terms of the licensing agreement between Trump and Trump Media & Technology Group, after posting on Truth Social, Trump cannot post on any other social platform for six hours. The exception is for posts from his personal accounts with political messaging, political fundraising or get-out-the vote efforts. This would mean Trump cannot use Twitter as his main social networking site, even after Elon Musk, the company’s potential new owner, cleared the way for his return.

Trump Media & Technology Groups states that part of its success depends on “the reputation and popularity of its Chairman, President Donald J. Trump,” which brings with it a number of risk factors. For one, Trump is currently involved in several lawsuits, including the congressional committee investigation into the insurrection at the Capitol, ongoing litigation over the 2020 election, an investigation into Trump’s alleged removal of classified documents and records from the White House and tax investigations in New York.

The filing also notes that a number of businesses associated with Trump have filed for bankruptcy, including the Trump Plaza, the Trump Castle and the Plaza Hotel, and a number of entities that had licensing agreements with the former president have failed.

Further, there’s questions about the reach of his popularity. The filing cites a study in The Hill, in which 30 percent of readers surveyed would use a social media site associated with Trump, as well as a New York Post survey saying only 60 percent of Republicans would use the platform.

Even outside of Trump, the company faces several questions about its ability to succeed.

Truth Social is entering the already established social networking space and may face newfound competition from Twitter, which has a larger number of users, under Musk.

“As a private company under new ownership, Twitter may demonstrate a renewed commitment to free speech principles that will heighten competition for users who prioritize such principles,” the filing states.

Further, there’s concern that the company’s mission may be confusing, as it may imply the user already needs to have a large audience to use the platform or needs to be sharing important “Truths.” There’s also the possibility that the overall mission does not succeed.

“If TMTG fails to successfully promote and maintain TMTG’s programming as one which is “non-woke” and one which cancels “cancel culture” or if TMTG incurs excessive expenses in this effort, its business and operating results could be adversely affected,” the filing states.

Truth Social plans to feature advertising on its platform, which the company notes may be impacted by advertising boycotts, if the content on the platform is deemed too controversial.

If the merger does close, the company plans to list on Nasdaq under the symbols “TMTG” and “TMTGW.”

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