If this is all true, the environment at Truth Social is pretty hostile.
Trump Media, the owner of the fledgling social network Truth Social, had just been boosted by a huge merger agreement and a flood of investment that had made the stake worth millions of dollars. Trump had already been given 90 percent of the company’s shares in exchange for the use of his name and some minor involvement, leaving everyone else to split the rest.
Litinsky tried to brush it off, telling Trump “the gift would have meant a huge tax bill he couldn’t pay,” Wilkerson said in an interview. “Trump didn’t care. He said, ‘Do whatever you need to do.’ ”
Will Wilkerson, then an executive at former president Donald Trump’s start-up Trump Media & Technology Group, was at a Fort Lauderdale, Fla., coffee shop with company co-founder Andy Litinsky last October when Trump called Litinsky with a question: Would he give up some of his shares to Trump’s wife, Melania?
Five months later, Litinsky, who first met Trump in 2004 as a contestant on the TV show “The Apprentice,” was abruptly removed from the company’s board. Wilkerson said he believes it was payback for his refusal to turn over a small fortune to the former president’s wife. Litinsky thought so, too, according to an email Wilkerson and his attorneys shared with The Washington Post and the Securities and Exchange Commission. In that email, Litinsky complained that Trump was “retaliating against me” by threatening to “ ‘blow up the company’ if his demands are not met.”
Litinsky did not respond to emails and phone messages. It is unknown whether he still retains his shares.
[size= 12pt]If this is all true, the environment at Truth Social is pretty hostile.[/size]
Trump Media, the owner of the fledgling social network Truth Social, had just been boosted by a [url=https://www.washingtonpost.com/business/donald-trumps-spac-deal-will-take-memes-to-anextreme/2021/10/22/135f42e2-3338-11ec-8036-7db255bff176_story.html]huge merger agreement[/url] and a flood of investment that had made the stake worth millions of dollars. Trump had already been given 90 percent of the company’s shares in exchange for the use of his name and some minor involvement, leaving everyone else to split the rest.
Litinsky tried to brush it off, telling Trump “the gift would have meant a huge tax bill he couldn’t pay,” Wilkerson said in an interview. “Trump didn’t care. He said, ‘Do whatever you need to do.’ ”
Will Wilkerson, then an executive at former president Donald Trump’s start-up Trump Media & Technology Group, was at a Fort Lauderdale, Fla., coffee shop with company co-founder Andy Litinsky last October when Trump called Litinsky with a question: Would he give up some of his shares to Trump’s wife, Melania?
Five months later, Litinsky, who first met Trump in 2004 as a contestant on the TV show “The Apprentice,” was abruptly removed from the company’s board. Wilkerson said he believes it was payback for his refusal to turn over a small fortune to the former president’s wife. Litinsky thought so, too, according to an email Wilkerson and his attorneys shared with The Washington Post and the Securities and Exchange Commission. In that email, Litinsky complained that Trump was “retaliating against me” by threatening to “ ‘blow up the company’ if his demands are not met.”
Litinsky did not respond to emails and phone messages. It is unknown whether he still retains his shares. [/quote]
Shares of the blank-check company set to take Trump Media and its Truth Social platform public fell sharply Wednesday after candidates endorsed by the former president disappointed in high-profile midterm election races.
Digital World Acquisition Corp.’s shares closed more than 19% lower Wednesday.
Shares of the blank-check company set to take Trump Media and its Truth Social platform public fell sharply Wednesday after candidates endorsed by the former president [url=https://www.cnbc.com/2022/11/09/midterm-election-results-trump-candidates-disappoint-on-election-day.html]disappointed in high-profile midterm election races[/url].
[url=https://www.cnbc.com/quotes/DWAC/]Digital World Acquisition Corp.[/url]’s shares closed more than 19% lower Wednesday.
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