Donald Trump’s Truth Social Has Millions In Financial Losses, SEC Filing Shows – Update
By Erik Pedersen, Yahoo
Editor’s note: This article previously reported a $73 million loss. That is incorrect. Trump Media & Technology Group, the parent company of former President Donald Trump’s Truth Social, had a loss of $31.6 million since its inception in 2021. According to a filing with the SEC, TMTG had a $50 million profit in 2022, not a loss of $50 million. We sincerely regret the errors and have corrected them in this story.
In advance of a proposed merger, Digital World Acquisition Corp. revealed in an SEC filing that TMTG has lost millions since its launch.
A sprawling, 530-page filing with the federal Securities and Exchange Commission (see it here) shows that while the conservative social media platform made $50 million in 2022, it has had total losses adding up to $31.6 million since its inception in 2021.
