--- title: "Donald Trump’s “Truth Social” Admits It Lost $327 Million This Quarter" description: "Trump Media, which owns Truth Social, only took in $770,000 in revenue in the last quarter despite its multi-billion dollar valuation." date: "2024-05-21" modified: "2024-05-21" authors: - name: "Frank Landymore" job_title: "Contributing Writer" link: "https://futurism.com/authors/flandymore" url: "https://futurism.com/the-byte/donald-trump-truth-social-losses" categories: - "Future Society" tags: - "donald trump" - "social media" - "the digest" - "truth social" --- # Donald Trump’s “Truth Social” Admits It Lost $327 Million This Quarter ![Trump Media, which owns Truth Social, only took in $770,000 in revenue in the last quarter despite its multi-billion dollar valuation.]() *\Image: Mandel Ngan / AFP via Getty / Futurism\* ## Art of the Steal How are things going at former President Donald Trump's social media company? Money-wise: astoundingly bad. Trump Media and Technology Group, which owns and operates the Twitter clone "Truth Social," posted a staggering net loss of over $327.6 million for the first quarter of 2024, according to its [earnings report]() — perhaps taking some shine off its glitzy, multi-billion dollar valuation. Yet, as stupefying an amount of money that is to piss away, that's somehow not even the most embarrassing figure to come out of the report. Trump Media's quarterly revenue was just $770,000 — practically peanuts — most of which came from advertising on Truth Social. The company's shares fell about nine percent on the news. That's striking, because in the weeks prior, Trump Media's stock had been steadily recovering following [a period of rapid freefall in April]() — a volatility that's a trademark of so-called [meme stocks](). ## Sad! This is the first clear look we've gotten at Trump Media's financials since it completed a merger with Digital World Acquisition Corporation in March. That saw the company go public, flushing it with $274 million in cash and funding it "for the foreseeable future." The staggering quarterly losses would seem to call that outlook into question. About half of those expenses, the company claims, come from one-time payments related to its merger with Digital World. Its operating losses total $12.1 million, a figure which does not follow generally accepted accounting principles (GAAP), [the *New York Times* noted](). Adjusted for GAAP, those operating losses look more like $98.35 million, [*Variety* reported](). One-time costs or not, the venture doesn't have a history of being a money-maker. Trump Media has posted less revenue this quarter than it did in the same one a year before, which saw it rake in a barely better $1.1 million. Over that entire year, in fact, it only garnered [$4 million in revenue while losing $58 million](). As bad as that all looks — and don't get us wrong, it's *bad* — Trump Media's valuation still towers at $7 billion. Donald Trump remains the largest shareholder, owning a near 65 percent stake in the company, and is probably the [only clear winner]() of Truth Social's [dubious practices](). Why is a venture that's seemingly incapable of covering its expenses worth billions? That, of course, may come down to the cultish following Trump commands from his legions of followers, many of whom are ardent shareholders. We wonder [how they're feeling about those numbers right now](). **More on Truth Social:** *[CEO of Trump Media Trying to Figure Out Why Its Stock Keeps Falling]()* ## Author At Futurism, my work has often centered on bringing a sense of clarity and insight to complex topics ranging from the regulation of emerging technologies to the esoteric ideologies of Silicon Valley executives, while striving not to lose the poetic sense of awe inspired by often-obscure fields like astrophysics and quantum computing. I broke the story of CNET using AI to produce articles that turned out to be riddled with factual errors and plagiarism — a dam-breaking inflection point, as I've reported, that's inspired copycats and endless discourse while beguiling stakeholders ranging from tech giants to purveyors of spam around the web. My work at Futurism has been cited by publications including CBS News, the Los Angeles Times, Vice, Gizmodo, Engadget, the Verge, and Vanity Fair. I grew up in locales ranging from India to China, and now live in the exotic suburbs of Virginia. In my free time, I'm an avid reader of weird sci-fi literature, an aficionado of East Asian cinema, and, regrettably, a relapsed gamer. Allegedly, I’m working on a debut novel, currently untitled. ### Author social links [Bluesky]()