Rep. Marjorie Taylor Greene reportedly lost thousands of dollars after investing in a company that is expected to merge with Donald Trump’s social media app, Truth Social.
According to a report from Business Insider, Greene invested between $15,001 and $50,000 in Digital World Acquisition Corp. last October. One year later, the value of the stock plummeted by more than 82% resulting in a loss between $12,330 and $41,100 on her investment.
Business Insider also found that another Republican member of Congress, Rep. Larry Bucshon (Ind.) invested in the company as well. Bucshon invested between $1,001 and $15,000 and lost between $800 and $12,000.
Documents obtained by Business Insider show that Greene made her investment days after Digital World Acquisition announced plans for a merger with Truth Social’s parent company, Trump Media and Technology Group.
However, the deal has been delayed and members of Trump Media are pointing fingers at the SEC, blaming them for postponing the review of the merger.
Business Insider noted that things haven’t been smooth sailing at Digital World Acquisition in the year since Greene’s and Bucshon’s investments. In August, the company changed its headquarters address to a mailbox at a UPS Store in Miami located between a nail salon and an Italian seafood restaurant.
Things aren’t much different at Truth Social either where executives are fleeing Trump Media and Technology Group, downloads are lagging and they are already facing an accusation of stiffing a vendor out of more than $1 million in contractually obligated payments.
