3 weeks ago
Trump Media Loses £176m Despite Revenue Rising to £1.3m
Trump Media is a company that owns a social media app called Truth Social.
The company's most famous member is Donald Trump, the president of the United States.
During one three-month period, the company made only about £1.3 million from selling ads and subscriptions.
But it lost £176 million at the same time.
That is a very big amount of money to lose.
Most of the loss happened because the value of its digital coins and investments went down.
Digital coins are a type of internet money known as cryptocurrency.
The company also started a new service called Truth API.
It charges big finance companies to get President Trump's posts very quickly.
The company wants to keep growing, but for now it is spending far more money than it is making.
Trump Media & Technology Group (TMTG) reported a net loss of £176m for the second quarter despite revenue rising 89% to about £1.3m.
Most of the loss came from roughly £141m in unrealised losses tied to digital assets, digital assets pledged and equity securities.
Advertising generated about £1.1m and subscriptions roughly £133,000 during the quarter.
TMTG launched Truth API on August 1, a paid data service letting Wall Street firms access Trump's Truth Social posts faster for £44,000–£74,000 a month; interim CEO Kevin McGurn said more than 10 customers have signed up.
Truth Social visits in July fell by more than a third year over year, while TMTG is pursuing a proposed merger with nuclear fusion company TAE Technologies.
- Who
- Trump Media & Technology Group (TMTG), owner of Truth Social, led by interim chief executive Kevin McGurn, with US President Donald Trump as its most influential user and family members among major shareholders.
- What
- Reported a £176m net loss on roughly £1.3m of quarterly revenue and launched Truth API, a subscription service giving faster access to Truth Social posts.
- Where
- United States — the company files with the US Securities and Exchange Commission and markets the Truth API to Wall Street firms.
- When
- April–June 2026 (second quarter), with results filed with the US Securities and Exchange Commission on Monday, 10 August 2026.
- Why
- Because roughly £141m in unrealised losses on digital assets and other investments far outweighed the relatively small revenue from advertising, subscriptions and other media operations.
Supporters of Truth API and diversification
Critics concerned about conflicts of interest
Selling faster access to Trump's posts
Supporters of Truth API and diversification
Truth API is a legitimate business-to-business data service that creates a new revenue stream, with more than 10 customers already paying £44,000 to £74,000 a month for faster access to posts.
Critics concerned about conflicts of interest
Charging Wall Street for faster access to posts from a platform whose most influential user is the US president raises conflict-of-interest questions, since family members remain major shareholders and the posts can move financial markets.
Expanding beyond social media
Supporters of Truth API and diversification
Moving into cryptocurrency, clean energy and a proposed TAE Technologies fusion merger gives TMTG new ways to grow beyond its small advertising and subscription base.
Critics concerned about conflicts of interest
Digital-asset and investment losses many times larger than sales show how risky the diversification is, while the core Truth Social business generates relatively little revenue.
Key facts
- Q2 net loss
- £176m
- Q2 revenue
- ~£1.3m (up 89%)
- Unrealised investment losses
- ~£141m (digital assets and equity securities)
- H1 2026 net loss
- ~£476m
- H1 2026 revenue
- ~£1.9m
- Advertising / subscription revenue
- ~£1.1m / ~£133,000
- Truth API
- Launched August 1; £44,000–£74,000 a month
- Total assets at end of Q2
- ~£1.5bn
Sources
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