Donald Trump’s Truth Social network loses £258m
Donald Trump’s social network lost $327.6m (£257.7m) in the first three months of the year, according to the first results released since its blockbuster $8bn float in March.
Trump Media and Technology (TMTG), the parent company of Mr Trump’s Twitter rival Truth Social, suffered the loss on revenues of just $770,500, a drop from $1.1m a year earlier. It attributed the fall to “a change in the revenue share with one of our advertising partners”.
The losses were almost entirely driven by accounting expenses related to the company recently going public in New York.
On an operating basis, the company…
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