TECH - Donald Trump's Truth Social Records $31.6M Loss In Less Than 2 Years (CORRECTED) | Benzinga
Editor’s note: This story and headline have been corrected to state that Truth Social has lost $31.6 million since its launch, not $73 million.
According to a new financial disclosure, Truth Social, the social media platform of former President Donald Trump, lost $31.6 million from its inception in February 2022 to mid-2023.
The disclosure was filed by Digital World Acquisition Corp. (NASDAQ:DWAC), a company in merger talks with Trump Media & Technology Group (TMTG). Trump holds a share in Truth Social, previously estimated at between $5 million and $25 million.
Truth Social recorded a $50.5-million profit in 2022 with net sales of $1.4 million and lost $23 million in the first half of 2023, with $2.3 million in net sales, according to Reuters.
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