Trump Wants A Paycheck For Joining Social Media Sites
As the 2020 election approached, news broke that Donald Trump was suffering under crippling debt. Now, he’s reportedly looking to cash in on his former social media popularity.
In October, Forbes covered the debt, noting that Trump isn’t technically ‘broke’ since he has assets exceeding the (known) debt. However, over $1 million in debt isn’t small, and as the New Yorker reported in January, his role in the insurrection attempt has dealt more financial blows, with some corporate partners and banks no longer interested in business with him.
Now Trump appears to be scrambling for cash, as the Wall Street Journal reports that he’s begging for money to join fringe social media sites.
Trump is reportedly considering sites like CloutHub and FreeSpace — sites that some users have retreated to when kicked off of mainstream social media like Facebook and Twitter. If he joins such a site, he says he’ll be bringing his Twitter following with him. At the time he was kicked off, he had around 89 million followers.
Bringing 89 million new users to a site could be worth a lot — but Trump reportedly isn’t interested in equity in whichever site he joins, but in a lump sum of cash up front.
Of course, Trump also brings risks — the social media site Parler, for instance, was booted off app stores after some of his fans used it to plan the attack on the Capitol, and discussed killing police.
There’s also the question of how many users Trump would really bring — Social Media HQ reported in September that about 60% of the accounts following the then-president were fake.
Then there are Trump’s legal woes — many are still speculating that his alleged financial crimes could take him out of circulation, if he ever sees charges for them.