Topline
Former President Donald Trump has privately floated joining social media platforms like Gettr after a tumultuous rollout of his new app, Truth Social, according to the Washington Post, which reported that the ex-president is simply furious with his platform’s rollout.
Then President Donald Trump puts away his cellphone as he holds a roundtable discussion in the State … [+]
Key Facts
Trump hasn’t posted on Truth Social in weeks because he believes the platform is “not ready for prime time,” an advisor told the Post, speaking anonymously because of the sensitive nature of the topic.
Gettr, a right-wing social media platform that launched in July, is considered one of Truth Social’s chief competitors, and both platforms have layouts very similar to that of Twitter.
Truth Social missed a major self-imposed deadline on March 31, the date Trump Media and Technology Group (TMGT) CEO Devin Nunes predicted the platform would be “fully operational.”
Well over a million prospective users remain stuck on a waiting list for the app, while new downloads have plummeted some 93% from what they were during the app’s Presidents’ Day launch week, according to The Wrap.
TMGT, Gettr and a representative for Trump did not respond to requests for comment from Forbes.
Key Background
Trump and several of his associates were banned from every major social media platform after his supporters stormed the U.S. Capitol on January 6, 2021, leading right-wing figures like former Trump spokesman Jason Miller to create new platforms they billed as censor free. Miller founded Gettr and launched the platform on July 4, 2021, which quickly attracted many top right-wing figures, but not Trump. The former president in October announced he’d serve as chairman of a new company, TMGT, which planned to go public by merging with special purpose acquisition company Digital World Acquisition Corp. (DWAC). TMGT’s first undertaking would be the launch of Truth Social, followed by the creation of a subscription-based streaming service called TMGT+ as part of a goal of becoming a broader media company. It remains unclear at this point when TMGT will go public, while DWAC is being investigated by the Securities and Exchange Commission over reports it held discussions with Trump before going public last year. DWAC’s share price has plummeted after the recent news, with the price falling more than 14% to $48.74 on Tuesday alone. DWAC traded as high as $175 a share during a short-lived frenzy after the announcement of Truth Social in October.
Tangent
Tesla CEO and world’s richest man, Elon Musk, acquired a 9.2% stake in Twitter, the social media giant disclosed on Monday, making him the company’s largest shareholder. He was named to the board of directors on Tuesday. Musk has regularly criticized Twitter in the past, claiming the platform does not promote free speech.
Further Reading
Trump’s Truth Social in trouble as financial, technical woes mount (Washington Post)
Trump’s Truth Social Still Plagued With Glitches Despite March 31 Goal To Be ‘Fully Operational’ (Forbes)
Executives At Trump’s Truth Social Reportedly Quit As Company’s SPAC Stock Drops (Forbes)
Elon Musk Acquires 9.2% Stake In Twitter (Forbes)
Twitter Quickly Names Musk To Board Of Directors After He Becomes Largest Shareholder (Forbes)
Source: https://www.forbes.com/sites/nicholasreimann/2022/04/05/trump-reportedly-mulls-joining-gettr-amid-fury-at-truth-social-rollout/