Donald Trump’s social network on the verge of collapse

Truth Social, the social network created by the former U.S. president Donald Trump seems to be on the verge of bankruptcy.

According to what FOX Business, a generally billionaire-friendly news source, has learned, the former president’s social media company, Truth Social, is engaged in a battle with one of its vendors who claims the platform owes him more than $1million inpayments.

If true, this information would suggest that Truth Social ‘s finances would be in shambles.

According to FOX, Internet infrastructure company RightForge, which hosts Truth Social on its servers, is reportedly among Truth Social’s top vendors and creditors seeking payment.

According to three sources at the conservative news network with direct knowledge of the matter, RightForge claims that Truth Social has failed to meet its contractual obligations to make monthly payments for setting up the platform’s web service infrastructure.

These individuals claim that RightForge alleges that Truth Social has made only three payments and has stopped making any payments since last March. RightForge claims Truth Social owes it about $1.6 million and is threatening to sue to get the money back, these people add.

Since its launch in February, Truth Social has been the former president’s primary way to make public announcements and attack his critics, who have been banned from other social networks since the events on Capitol Hill in Washington, D.C., in January 2021.

Truth Social is part of Trump Media and Technology Group, a holding company for the platform that, according to regulatory documents, has broader plans to expand into streaming and other services to promote Trump’s political brand. The former president reportedly holds a majority stake in Truth Social, according to FOXBusiness.

Donald Trump has still not announced his intentions regarding the next race for the American presidency. The billionaire, who recently faced FBI searches at his Florida residence, has already mentioned to relatives that he would like to see himself as the47th President of the United States.