| | | Trump's social media app facing financial falloutTruth Social’s finances may be in significant disarray, sources say
Former President Donald Trump’s social media outfit, Truth Social, is locked in a bitter battle with one of its vendors claiming that the platform is stiffing the company out of more than $1 million in contractually obligated payments, FOX Business has learned.
If the allegations are true, they would suggest that Truth Social’s finances are in significant disarray, people with direct knowledge of the matter say. Internet infrastructure company RightForge is said to be among Truth Social’s largest vendors and creditors, these people say.
In October, RightForge announced it entered into an agreement to host Truth Social, which Trump helped create after he was banned by Twitter following the Jan. 6 riots. RightForge now contends that Truth Social has reneged on its contractually obligated monthly payments for setting up the platform’s web-servicing infrastructure, according to three people with direct knowledge of the matter.
These people say RightForge contends that Truth Social has made just three payments and ceased making any payments since around March. RightForge claims that Truth Social owes it around $1.6 million and is threatening legal action to recoup the money, these people add.
TRUMP'S SOCIAL MEDIA PLATFORM TRUTH SOCIAL, BUYER NEED EXTENSION TO COMPLETE MERGER
RightForge CEO Martin Avila declined to comment "on any private matters," but wouldn’t deny the disagreement between the two entities. He added in a statement: "Our founding vision is to make a second internet to support American ideas online. RightForge believes in the mission of President Trump’s free speech platform and wish to continue supporting the president in his media endeavors."
A spokesman for Truth Social also would not deny the matter when contacted by FOX Business. A spokesman for Trump had no comment.
WHAT'S ANOTHER BANKRUPTCY EH SUCKERS? LMAO |
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