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Salon
Salon
Politics
Tom Boggioni

Investors turn on Truth Social deal

This illustration photo shows a person checking the app store on a smartphone for "Truth Social", with a photo of former US president Donald Trump on a computer screen in the background, in Los Angeles, October 20, 2021. (CHRIS DELMAS/AFP via Getty Images)

According to a report from Politico, the embattled partnership between Donald Trump's social media start-up and the company behind the SPAC that would take it public is on the verge of falling apart for good as potential investors either renege on their plans to fund it or demand a bigger return on their investment.

At issue is the proposed deal that was supposed to inject over a billion dollars into the increasingly troubled start-up before it went public -- which now may collapse under its own weight.

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