It is possible Trump makes a very large payday from Truth Social. If so, credit where credit is due, it will truly be one of the great grifts of history. Just a complete transfer of wealth from a bunch of fucking rubes to Trump.
Twitter itself, according to Elon's own math, is only worth around $4 billion right now.
Trump's Truth Social, for the first 9 months of 2023, only generated $3.38 million in REVENUE. I think the Ralph's Italian Ice store down the street from me probably pulls in more haha. After deducting expenses, like Devin Nunes' $750,000 annual salary, they lost tens of millions. Trump himself, on his financial disclosure form with the Federal Election Commission, assigned the company a value of only $5 to $25 million.
MAGA morons, it should come as no surprise, since they're functionally illiterate usually, are also financially illiterate. They've bid this pile of shit up so that it has a market cap of billions.
There is no path to profitability for the company and it's inevitable that it will fail eventually; however, Trump could moonwalk away from it with a huge payday, and his cult will be left holding the bags as the company declares bankruptcy. They'll celebrate him for this too! Look at how rich he is! That means he's a great businessman!
There is a lockup period though. Once Trump gets handed ~78 million shares for doing nothing but rage posting on his toilet at 3 AM, he has to wait for a period of about half a year before he can start selling. Only then could shares be used for collateral. It is possible he could file with financial regulators to change this lockup period, but it's unclear if that could work.