Reported 8 months ago
LinkedIn co-founder Reid Hoffman criticized the $6 billion valuation of former President Donald Trump's social media company, Truth Social, as being wildly inflated, with the company generating little revenue compared to its valuation. Despite recent fluctuations in its share price, experts like Jay Ritter and Barry Diller have expressed skepticism over the company's valuation, describing it as a 'meme stock' driven more by hype than fundamentals. Trump's stake in the company is currently valued at nearly $4 billion, down from $6 billion in May, but still significantly higher than its revenue generation.
Source: YAHOO