As Trump Media scraps some businesses, it’s doubling down on Truth Social and the president
Summary
President Donald Trump’s media company, Trump Media & Technology Group, is stopping most of its new business projects to focus again on its main media platform, Truth Social. The company is now selling fast access to President Trump’s posts for a high fee, which could significantly increase its income despite raising ethical concerns.Key Facts
- Trump Media & Technology tried several new businesses like online betting, finance, bitcoin storage, and nuclear energy but none succeeded.
- The company is returning to its original focus on Truth Social, a social media platform started by President Trump after being banned from other sites.
- They are offering a service that sells rapid access to President Trump’s posts for a fee to clients including traders and data companies.
- Trading firms pay between $60,000 and $100,000 per month for this fast access.
- This new service could boost the company’s revenue two to three times what it earned last year.
- The company lost over $1 billion since early last year, including a $238 million loss in the latest quarter.
- Much of the recent loss is due to a drop in the value of bitcoin the company holds.
- The company has a $1 billion loan with a repayment deadline in November 2026, adding financial pressure to improve results soon.
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