Corporate owner of Trump's social media platform Truth Social reveals staggering $400 million deficit

On Friday, the parent company of Truth Social, a social media platform owned by President Donald Trump, disclosed a significant net loss of over $400 million in the first quarter, primarily attributed to the decline in cryptocurrency valuations.

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The company, Trump Media & Technology Group (TMTG), reported a revenue of less than $1 million for the three months ending March 31, as stated in a company filing.

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President Trump, who frequently utilizes Truth Social for official announcements, holds approximately 41 percent of TMTG's shares through a trust established to manage his financial interests during his presidency.

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TMTG is also involved in financial services and had announced $2.5 billion in funding a year ago to invest in cryptocurrencies, a recent area of interest for Trump.

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The company's investment in digital currencies was severely impacted as the price of Bitcoin plummeted from over $126,000 in early October to below $70,000 in March, although it has since partially recovered to over $80,000.

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As a result of the requirement to disclose the value of its investments, even if they have not been sold, TMTG recorded a loss of $406 million for the first quarter, with "the vast bulk" of the loss attributed to digital assets.

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According to its filing, TMTG generated a mere $900,000 in revenue during the first quarter, a relatively small amount considering the company's valuation of $2.47 billion on the stock market.

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The company stated that it remains focused "on expanding its infrastructure and audience to prepare for future monetized features," indicating its commitment to growth and development.

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In December, TMTG announced its plans to merge with the American company TAE, which is developing nuclear fusion technology, with the deal expected to close in mid-2026.