Trump's Truth Social steps closer to a financial cliff

Former president Donald Trump's website Truth Social is barreling toward a financial cliff that could see its main lifeline disappear.

A Trump-allied investment company, Digital World Acquisition Corp., asked shareholders this week to approve a one-year extension for its merger with Trump's company while it fends off multiple federal investigations.

But at a special meeting Tuesday, the company's leader, Patrick Orlando, abruptly postponed the announcement of the vote until Thursday, saying he wanted to give shareholders more time to respond. Reuters first reported Tuesday that the company didn't have the votes.

If 65 percent of the company's shareholders don't approve the extension by Thursday, the company could be forced to liquidate, a potentially devastating blow that would leave Truth Social with nothing.

Just another of Trump's spectacular failures.

https://www.yahoo.com/finance/news/trumps-truth-social-steps-closer-013308454.html