--- title: "Trump’s Social Network Is Failing Miserably" description: "Donald Trump's social media platform Truth Social is burning through tens of millions of dollars, leaving its future anything but certain." date: "2023-11-15" modified: "2023-11-15" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/trump-truth-social-network-failing" categories: - "Future Society" tags: - "donald trump" - "social media" - "truth social" - "twitter" --- # Trump’s Social Network Is Failing Miserably ![Donald Trump's social media platform Truth Social is burning through tens of millions of dollars, leaving its future anything but certain.]() *\Image: Getty / Futurism\* While former president Donald Trump's efforts to get reelected next year are well underway, his social media business Truth Social is running into [yuge]() trouble. As the [*Washington Post* reports](), the platform is burning through tens of millions of dollars and shedding users, leaving its future anything but certain. Accountants at Trump Media & Technology Group (TMTG), the former president's startup behind Truth Social, raised concerns in a [document]() recently filed with the Securities and Exchange Commission by investment partner Digital World Acquisiton, painting a dire picture of Trumps's far-right Twitter clone. "TMTG has suffered negative cash flows and recurring losses from operations that raise substantial doubt about its ability to continue as a going concern," the document reads. The numbers are not confidence-inspiring. Trump Media lost $22.9 in the first half of 2023 alone, netting just under a tenth of that in net sales over the same period, according to the document. Over the less than two years it's been in operation, Truth Social has lost $73 million. The company is now eyeing a proposed merger with Digital World, which could effectively bail out the social media network, at least for now, by giving it access to Digital World's $300 million in available funds. In the document, a defiant TMTG CEO Devin Nunes — yes, [that Devin Nunes]() — called the document a "monumental milestone toward" the merger, arguing that Truth Social still aims to "become the centerpiece of a movement, as well as a method for Americans to invest in their freedom." Despite Nunes' hubris, the document is a sobering account of the platform's recent financial failures, burning a big hole in the former president's business. And in many ways, it doesn't exactly come as a surprise. The news comes amid [several ongoing criminal investigations]() targeting Trump, including accounts of fraud, class action lawsuits against his family's corporation, and counts of incitement for the January 6 insurrection at the US Capitol. Truth Social was created roughly a month after the insurrection, when Trump was dumped by several mainstream social media platforms including [Twitter]() and [Facebook](). It [claims]() to encourage "an open, free, and honest global conversation without discriminating on the basis of political ideology." Trump even [went as far as to argue]() it would eventually compete with the likes of Disney Plus and Netflix. In practice, the platform has become a cesspool of misinformation, [conspiracy theories](), [scams, and ads for miracle cures](). The platform has also struggled to attract new users and had an [estimated 607,000 monthly users]() as of July, according to data from Similarweb. That's compared to X-formerly-Twitter's [hundreds of millions]() of daily active users and Facebook's [three billion]() monthly active users. In August, Trump [returned to X]() for the first time since being suspended last year, posting a picture of his own mugshot. But considering his radio silence since then, it's clear he hasn't given up on Truth Social just yet. But whether that'll end up being a losing bet considering the platform's dire financial situation remains to be seen. Even X owner Elon Musk's social media platform [isn't looking too hot right now](). **More on Trump:** *[Donald Trump's NFT Collection Is So Fantastically Ugly That Even His Biggest Fans Are Aghast]()* ## 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]()