NEW YORK, July 18, 2026 — By the numbers: Trump Media & Technology Group posted $328 million in losses in the first quarter of 2024. Revenue during that same period: $770,000. The bottom line: the alt-tech platform’s financial struggles remain acute, even after its long-awaited public listing and the return of President Donald Trump to the White House.
Those losses were largely tied to the cost of going public via a merger with a special-purpose acquisition company. The figure that matters for investors: $328 million in red ink against less than $1 million in sales.
The company had disclosed cumulative losses of at least $31 million as of a 2023 filing.
By the numbers: user base and market position
Truth Social launched in February 2022 as a direct response to Trump’s bans from major social platforms after the January 6, 2021, Capitol attack. It is majority-owned by the president. As of early 2025, the platform had an estimated 6.3 million monthly active users — a fraction of mainstream competitors.
YouGov ranked Truth Social 38th in popularity among social apps and websites in October 2025. By February 2026, Similarweb ranked its website 24th in U.S. social media traffic.
The platform was unavailable on Google Play from its launch until October 2022. Approval came only after the company agreed to enforce rules against incitement.
Financial and legal headwinds
The financial picture has been difficult from the start. Digital World Acquisition Corp, the SPAC that took TMTG public, refunded investors the $1 billion it had raised for the company in 2023. Shareholders voted to merge with TMTG in 2024, and the combined company began trading on Nasdaq.
Truth Social has been under multiple regulatory and legal investigations. The Securities and Exchange Commission and the Department of Justice have both scrutinized the company’s financial disclosures and accounting practices.
Content moderation has also drawn criticism. The platform has been faulted for inconsistent enforcement of its own rules and for hosting misinformation. The company’s founding traces back to Wes Moss and Andy Litinsky, former cast members of Trump’s television show The Apprentice.
They pitched the idea to Trump in January 2021. The SPAC, Digital World Acquisition Corp, was created with help from ARC Capital, a Shanghai-based firm that provided at least $2 million via a Singapore-based fund.
DWAC’s CEO also led Yunhong International, a Wuhan-based company registered in the Cayman Islands. Looking ahead, the key question for Truth Social is whether it can grow its user base and revenue sufficiently to justify its market value — and whether the remaining regulatory probes yield any material findings. For now, the numbers speak plainly: $328 million in losses, $770,000 in revenue, and a long climb ahead.
Sources
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