Former President Donald Trump's media business, Trump Media & Technology Group (TMTG), has found itself embroiled in a legal battle with two of its co-founders, Andy Litinsky and Wes Moss. The lawsuit, filed in Florida state court on March 24, alleges that Litinsky and Moss mismanaged the business and should be stripped of their shares in the company, which are currently valued at $606 million. The lawsuit claims that Litinsky and Moss, who both appeared on Trump's reality show "The Apprentice," failed to properly set up the business and create an effective corporate governance structure, ultimately causing damage to TMTG and its merger partner, Digital World Acquisition Corp.

Litinsky and Moss, on the other hand, had filed a complaint in February in the Delaware Court of Chancery seeking to prevent Trump from taking steps that would reduce their stake in TMTG. They accused Trump of trying to block the company's successful plan to go public and merge with Digital World Acquisition, a move that saw TMTG debut on the Nasdaq stock market under the ticker symbol DJT. The company's stock initially soared to over $70 per share before dropping to $51.60 on Tuesday.

Trump's lawsuit blames Litinsky and Moss for Truth Social's rocky debut, claiming they hired a deficient team to manage the platform's development and created a toxic corporate culture. The lawsuit also alleges that Litinsky and Moss attempted to thwart the SPAC deal with Digital World Acquisition, leading to significant legal expenses and delays in taking TMTG public. Trump's net worth, tied to TMTG's stock price, has fluctuated along with the company's performance, with his stake in TMTG currently valued at $4.02 billion.

The legal battle between Trump and his former co-founders continues to escalate, with both parties filing lawsuits against each other in different courts. The Delaware Court of Chancery declined to fast-track Litinsky and Moss's suit, while considering possible sanctions against Trump for filing a separate lawsuit in Florida. The outcome of these legal battles will determine the future of TMTG and its social media platform, Truth Social, as the company faces challenges in maintaining its stock price and reputation in the market.