Trump Media & Technology Group, the parent company of President Donald Trump’s Truth Social, reported a significant loss of $400.9 million last year, with annual revenue declining by 12% to $3.6 million. The company attributed these losses partially to a revenue-sharing agreement with an undisclosed advertising partner. Following his presidential victory, Trump gifted all his shares, valued at approximately $4 billion, to the Donald J. Trump Revocable Trust, with his son Donald Trump Jr. serving as the sole trustee with full control over the trust’s securities. Truth Social was established by Trump after being banned from major social media platforms in the aftermath of the January 6, 2021, Capitol riot.

The company, headquartered in Sarasota, Florida, emphasized its early development stage and chose not to disclose conventional key performance indicators typically reported by social media companies. Trump Media went public in March through a merger with Digital World Acquisition Corp., utilizing a special purpose acquisition company (SPAC) structure for expedited public trading of its shares. Despite the substantial financial setbacks, the future trajectory of Truth Social and Trump Media remains uncertain, given the evolving landscape of social media platforms and the competitive market dynamics.