Former President Donald Trump shared his thoughts on the reported breakdown of the Forbes sale to Austin Russell, attributing the failure to what he considers Forbes being a “pathetic outlet of Fake News.” Trump conveyed this perspective in a post on Truth Social over the weekend.
“Oh, really bad news!” Trump wrote.
“The Owned by China Forbes Magazine deal with Russia just fell apart, so China will continue to own and run it, and say bad things about your favorite President, ME.
“But eventually it will cease to exist, be worthless.
“BAD WRITERS!” Trump blasted.
“Anyone that pays more than $50 Million for this pathetic outlet of Fake News is a fool!”
In May 2023, initial reports suggested that Austin Russell had acquired Forbes for $800 million. However, recent reports, including one from Axios last week, suggest that the deal has not been finalized.
“Russell was blindsided by Indian investment firm Sun Group and others who didn’t wire the money they were contractually obligated to send on the day the deal was supposed to close, per the sources,” Axios reported.
“Russell missed a two-week extension deadline earlier this week to get his $800 million bid together,” the outlet added.
“If he doesn’t come up with the cash soon, his deal to buy Forbes could be in peril.”
The outcome of this situation is yet to unfold. Negotiations for the sale of Forbes by Russell are reportedly ongoing, leaving the possibility of a deal still viable. Additionally, even if the current deal falls through, Axios suggests that at least one other buyer is gearing up to submit a competing bid. Therefore, it seems likely that Forbes will undergo a sale one way or another.
In a separate message on Truth Social, Trump criticized The Atlantic, accusing the publication of disseminating “false and fake stories” and labeling it a “third-rate magazine.”
“It’s so good to see how badly the THIRD RATE MAGAZINE, The Atlantic, is doing,” Trump wrote.
“It’s failing at a level seldom seen before, even in the Publishing Business.
“False and Fake stories do it every time!”
He added, “They’ve got a rich person funding the ridiculous losses, but at some point, rich people get smart also.
“Steve Jobs would not be proud of his wife, Laurene, and the way she is spending his money.
“The Radical Left is destroying America!”