Commentary: Trump Media's financial report revives doubts for investors
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So much Trump-related news has appeared lately on the airwaves and in web pixels — what with Iran and Epstein and Minnesota and so on — that inevitably a nugget will fall between the cracks.That seems to have been the fate of the most recent annual financial report of Trump Media and Technology Group, which covered calendar year 2025 and was issued Friday.Trump Media, which is 52% owned by Donald Trump and trades on Nasdaq with a ticker symbol based on his initials (DJT), is the holding company for Trump’s social media platform, Truth Social.
The value of TMTG’s brand may diminish if the popularity of President Donald J.Trump were to suffer.— A risk factor disclosed by Trump MediaThe annual financial disclosure has garnered minimal press coverage.
That’s a pity, because it makes fascinating reading, though not in a good way.Here are the top and bottom lines from the 10-k annual report: Trump Media lost $712.1 million last year on revenue of about $3.7 million.
That’s quite a bit worse than its performance in 2024, when it lost $409 million on revenue of about $3.6 million.The company attributed most of the flood of red ink to “loss from investments,” of which more in a moment.Commentary on economics and more from a Pulitzer Prize winner.
By continuing, you agree to our Terms of Service and our Privacy Policy.Truth Social isn’t an especially strong keystone of this operation.
The platform is chiefly an outlet for Trump’s social media ramblings and the occasional official White House statements.But no one has to sign in to Truth Social to see them — they’re almost invariably picked up by the news media or reposted by users on other platforms such as X.
That might explain Truth Social’s relatively scrawny user base.The platform is estimated to have about 2 million active users, according to the analytical firm Search Logistics.
By comparison, X has...