Trump Media & Technology Group, the parent company of Truth Social, announced a net loss of $400.9 million for last year, alongside a 12% decrease in annual revenue, down to $3.6 million.
In its Friday earnings report, the company attributed these losses, in part, to a revenue-sharing agreement with an unnamed advertising partner.
Following his November U.S. presidential election victory, Trump gifted his entire stake in the company—approximately $4 billion in value—to the Donald J. Trump Revocable Trust in December.
Donald Trump Jr. serves as the sole trustee, holding exclusive voting and investment authority over the trust’s assets, which represent over half of the company’s stock.
Truth Social was founded by Trump following his suspension from Twitter and Facebook after the January 6, 2021, Capitol riot.
Due to its early stage of development, the Sarasota, Florida-based company stated it does not currently release standard social media performance metrics, such as user sign-ups, daily/monthly active users, or ad engagement figures.
Trump Media’s public listing occurred last March through a merger with Digital World Acquisition Corp., a special purpose acquisition company (SPAC), a strategy facilitating a quicker and more streamlined public market entry for emerging businesses.
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