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Parent company of Trump's Truth Social posts US$328m loss

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Trump Media And Technology Group News

Truth Social,Donald Trump

WASHINGTON, May 21 ― Trump Media and Technology Group, which owns former US president Donald Trump's social media platform Truth Social, lost more than US$300 million...

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TMTG, which recently went public, posted a net loss of US$327.6 million from January to March, compared with US$210,300 in net losses for the same period last year, according to a company statement. TMTG began publicly trading on the Nasdaq on March 26, meaning the Republican White House candidate's media group is now obligated to publish quarterly results.

According to TMTG, the vast majority of the quarterly losses were related to US$311 million in non-cash expenses ― including the elimination of prior liabilities ― which occurred prior to the merger with Digital World.

 

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