Donald Trump’s media business generated less than $1mn in revenue in the fourth quarter, highlighting the lossmaking business’s precarious financial position even as it maintains a market capitalisation of nearly $10bn.
Trump Media & Technology Group was taken public last week in a merger with a blank-cheque company, which increased the former US president’s wealth on paper by billions of dollars.
Financial results filed on Monday show that the owner of Trump’s Truth Social platform took in just $751,500 in revenue in the fourth quarter of 2023, a decrease of more than 25 per cent on the previous quarter. The company said it has signed up 9mn users, including Trump.
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