Parent company of president’s Truth Social platform generated only $870,000 even as net sales were up 6%

Parent company of president’s Truth Social platform generated only $870,000 even as net sales were up 6%

The parent company of Donald Trump’s Truth Social platform – one of the president’s preferred communications channels – lost nearly $406m in the first three months of the year while generating a little over $870,000 in revenue, according to financial filings.

The Trump Media and Technology Group’s quarterly report for January to March 2026 showed that while net sales were up 6% year over year, the company took sizable losses related to other investments.

The vast bulk of the losses were “non-cash losses including unrealized losses on digital assets, digital assets pledged, and equity securities ($368m), accreted interest ($11.5m), and stock based compensation ($11.8m)”, the company said in a press release.

  • tal@lemmy.todayEnglish
    12·
    9 days ago

    The reported losses come five months after Trump Media announced plans to merge in a $6bn deal with a California nuclear fusion company TAE Technologies that aims to power artificial intelligence datacenters.

    https://en.wikipedia.org/wiki/TAE_Technologies

    The Government of Russia, through the joint-stock company Rusnano, invested in Tri Alpha Energy in October 2012, and Anatoly Chubais, Rusnano CEO, became a board member.

    Mmmhmm.

    • phutatorius@lemmy.zip
      1·
      7 days ago

      So the deep game is to create demand for Russian energy by building wasteful AI data centers.

      It all starts to make better sense.