--- title: "Trump’s Failing Social Network, Truth Social, Lost an Absolutely Staggering Amount of Money Last Year" description: "  President Donald Trump's failing \"Truth Social\" social media network lost a staggering amount of money last year. As CBS News reports, the platform's parent company Trump Media and Technology Group revealed in a Securities and Exchange Commission filing last week that it had lost a staggering $400.9 million last year. Annual revenues dropped to an abysmal $3.6 million while its losses ballooned more than six-fold compared to 2023. As Bloomberg points out, that means the company's deficit has risen to a staggering $2.9 billion. Despite the immense losses, TMTG's market capitalization is still almost $6.5 billion, highlighting its astronomically […]" date: "2025-02-18" modified: "2025-02-18" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/trump-truth-social-lost-staggering-money-last-year" categories: - "Future Society" tags: - "donald trump" - "social media" - "truth social" --- # Trump’s Failing Social Network, Truth Social, Lost an Absolutely Staggering Amount of Money Last Year ![President Donald Trump's social network, Truth Social, lost a staggering amount of money last year, according to the latest filing.]() *\Image: Getty / Futurism\* President Donald Trump's social network, Truth Social, lost a staggering amount of money last year. As [*CBS News* reports](), the platform's parent company Trump Media and Technology Group revealed in a [Securities and Exchange Commission filing]() last week that it lost a staggering $400.9 million in 2024. Annual revenue dropped to an abysmal $3.6 million, while the meme stock's losses ballooned more than six-fold compared to 2023. As [*Bloomberg* points out](), that means the company's deficit has risen to a staggering $2.9 billion. Despite the immense losses, TMTG's market capitalization is still almost $6.5 billion, highlighting it's astronomically overvalued. The company has long struggled to justify its existence given the lack of a coherent business and has largely been seen as a [proxy for the president's popularity]() instead. It also serves as a funhouse mirror of Trump's political health; its shares [plummeted]() 22 percent following his election win in November, suggesting investors were becoming wary of Trump and his [collaborators cashing out](). Trump, who has previously promised that he's "[not selling]()," transferred his controlling proportion of shares, which were worth around $3.5 billion as of Friday, to a [trust as a "bona fide gift" to his eldest son](), Donald Trump Jr., in December. Despite its multibillion-dollar valuation, Truth Social has struggled to attract new users. As of November, the platform [had 355,000 daily active users]() — according to research firm Apptopia since the company [doesn't report "traditional key performance indicators]()" — which pales in comparison to virtually all its competitors like Facebook. The value proposition over those alternatives is also increasingly dubious; Trump himself has increasingly [taken to]() multi-hyphenate billionaire Elon Musk's X-formerly-Twitter to blast out hastily written missives, to the detriment of his own platform. Apart from his failing social media network, Trump also [launched a meme coin]() shortly before he was inaugurated, a cash grab that left most investors [in the red]() — and [infuriated]() much of the crypto community to boot. Whether Trump Jr. will have what it takes to turn TMTG around and stop it from hemorrhaging hundreds of millions of dollars remains to be seen. The company [recently applied for several trademarks]() for a line of exchange-traded funds (ETFs), in an apparent effort to provide a "competitive alternative to the woke funds and debanking problems that you find throughout the market," according to CEO Devin Nunes. TMTG also rolled out a streaming service called "Truth+" in October, but how many people have tuned in to watch any of the purportedly "[uncancellable]()" content on the app remains to be seen. **More on Truth Social:** *[Truth Social Stock Is Crashing Even Though Trump Won]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()