Trump's Truth Social platform files massive, $1.5 billion lawsuit against MSNBC, Axios, Reuters, and 17 other media companies

Truth Social, the social media platform connected to former President Donald Trump, announced a massive, billion-dollar lawsuit against 20 news media companies.

The company posted a statement about its lawsuit Monday evening.

"Today Truth Social filed a defamation lawsuit that is likely unprecedented in history, incorporating twenty publications - and even more may be added. All of them published the same false information about Truth Social and refused to fully retract their stories," the statement read.

"To the Fake News outlets that think themselves about accountability: we'll see you in court," it added.

Some of the companies listed in the lawsuit were MSNBC, Axios, Reuters, the Daily Beast, Newsweek, Mediaite, Daily Mail, and CNBC. They are accused of participating in a "seemingly coordinated" media campaign to report that Truth Social had lost $73 million.

"This number was an utter fabrication," the lawsuit read.

The company goes on to claim that it demanded a correction and retraction from the media outlets but that none of them complied completely or apologized. The lawsuit says that the false reports damaged the company's ability to raise funds for a planned company merger.

"Existing investors and potential investors alike were concerned by the false stories," the lawsuit read.

The lawsuit says that the figure cited by the news outlets does not appear in its SEC filing, which was readily available to any outlet.

The lawsuit asks for $1.5 billion from the defendants and also for attorneys' fees.

Also on Monday, tech billionaire Elon Musk filed what he called a "thermonuclear" defamation lawsuit against Media Matters, the left-wing activist organization. The liberal group pressured companies successfully to drop their ads on X, the platform formerly known as Twitter, based on a report claiming their ads would show up next to white supremacist posts.

Musk denied the report and accused Media Matters of falsifying data in order to damage his company.

"The discovery and depositions will be glorious to behold," he said.

Here's one of the reports denied by Truth Social:

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