Investor in Trump’s New Social Media Firm Backs Up: ‘Makes Me Wanna Puke’

Investor in Trump’s New Social Media Firm Backs Up: ‘Makes Me Wanna Puke’

The launch of Donald Trump’s new social media company “TRUTH Social” has hit another bump in the road as some of the early key investors pull out after finding out that he is one of the main behind it they don’t. weren’t aware when they put the money into getting started.

As the New York Times reported, “Details of Mr. Trump’s latest partnership were vague. – dollar amounts and superlatives that could not be verified. “

According to a report by Ed Mazza of the Huff Post, a hedge fund manager went on a rampage when he found out about Trump’s involvement.

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As Mazza reports, “ [Boaz] Weinstein’s Saba Capital had been a major investor in Digital World, a Special Purpose Acquisition Company (SPAC) formed with the purpose of acquiring another company. As is often the case in after-sales service agreements, investors put their money in before the acquisition target is chosen. When Weinstein found out it would be with Trump’s firm, he bailed out. “

“I knew that for Saba the right thing to do was to sell our entire stake in unrestricted shares, which we have now done. Many investors struggle with difficult questions about how to incorporate their values ​​into their work. For us, it was not an end of call, ”he explained.

Another anonymous investor, who allegedly owned 10% of the company’s equity, was much more explicit when he spoke of being taken over by Trump’s latest company and he “sold everything as soon as he got it. could, ”Mazza reports.

“The idea that I would help [Trump] starting a fake news business called Truth makes me want to throw up, ”they said.

You can read more here.

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