President Donald Trump may have made millions off his meme coin stock, but he’s seeing his losses elsewhere. The president’s media company, Trump Media & Technology Group, which oversees his social media sounding board Truth Social, lost more than $400 million last year. Its annual revenue was $3.6 million, a 12 percent slide from 2023. The company is spearheaded by CEO Devin Nunes, a former California congressman. Trump Media characteristically found a way to blame former President Joe Biden, accusing the Biden-era Securities and Exchange Commission of “obstruction” over its March 2024 merger with shell company Digital World Acquisition Corp. It also said its losses partly stemmed from a revenue-sharing agreement with an advertising partner, though it didn’t disclose which. Trump moved his shares in the company, worth about $4 billion on paper, to his eponymous revocable trust last year. His eldest son, Donald Trump Jr., is the sole trustee.
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