Joe Scarborough revealed on Tuesday why he thought Donald Trump would soon shut down his Truth Social media site.
After he inspired the January 6th insurrection, Donald Trump was banned from several social media sites. That included Twitter, his favorite way to communicate. So Trump created his own knock-off version of Twitter, which he unironically called Truth Social.
On today's show, Scarborough was speaking with Ross Buettner and Susanne Craig about their new book, Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created the Illusion of Success.
Craig explained at one point, "If he sells [his stock in Truth Social], it could crush the company. But these are a lot of unknowns. You know, the other thing we've seen him doing, he's hawking sneakers, he's hawking Bibles. These are licensing deals, they're not going to bring in a lot of money."
The New York Times scribe continued:
"We have to remember, Donald Trump lost a lot of the licensing deals that he struck when he decided to run for president back in 2016. Now he's facing potentially crushing fines, hundreds of millions of dollars in fines. Just think of the New York attorney general's case. We don't know how it'll play out, that case is on appeal. That bill could be coming due."
The host responded, "I do think he'll most likely sell the stock. It might crush the company, but with the expenses, if he could get a billion, $2 billion out of that, that'll certainly – that will – you have to sell a lot of sneakers to get a billion or two dollars."