President Donald Trump’s Truth Social Empire lost a staggering $400 million in the fiscal year of 2023.
Trump’s Truth Social parent company reports $400.9 million loss amid revenue decline – India Today
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Excerpt:
The parent company of former President Donald Trump’s social networking site, Truth Social, reported a $400.9 million loss in 2023, with annual revenue falling 12% to $3.6 million.
Trump Media & Technology Group (TMTG) disclosed its earnings late Friday, attributing the losses partly to a revenue-sharing agreement with an undisclosed advertising partner.
In December, following his U.S. presidential election victory, Trump transferred all of his shares—valued at approximately $4 billion on paper—as a “bona fide gift” to the Donald J. Trump Revocable Trust. His shares accounted for more than half of the company’s stock. Donald Trump Jr., the oldest of the president’s five children, is the trust’s sole trustee, with exclusive voting and investment control over its securities.
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