Capital Economy, Business and Finance
When Donald Trump’s social media platform went public last week, it was thrown a financial lifeline. The move helped the company access about $300 million in investor funds – useful given that the platform’s management had “substantial doubt” at the end of last year that it would be able to meet its debts, according to a regulatory filing. The Guardian says the company had to turn to emergency loans to stay afloat in 2022, including from an entity called ES Family Trust, which the paper links to a Russian-American businessman, Anton Postolnikov – reportedly a subject in a federal insider-trading investigation into the Trump Media merger. The claims could not be verified by Tortoise; a Trump Media spokesperson said the Guardian’s reporting was “defamatory, maliciously false and already the subject of ongoing litigation”. In better news for Trump: House Republicans introduced legislation to rename Washington Dulles International Airport after him.