Trump's business

Billion-dollar loss for Trump Media – scrapping investments

Truth Social owner Trump Media & Technology reports a net loss of just over 2.2 billion kronor for the second quarter of this year, reports AP. The company is now scrapping several previous investments, including in crypto and forecast markets.

– We will say no to certain things or change course when it is justified, said the company's CEO Kevin McGurn during a conference call last night.

Donald Trump co-founded Trump Media in 2021 and is very active on Truth Social.

At least ten companies pay for Trump's new "insider service"

At least ten customers have signed agreements for Trump Media's new service Truth API, which provides faster access to market-influencing posts on Truth Social, according to the company's acting CEO Kevin McGurn.

The first customers are mainly financial companies, which pay between 60,000 and 100,000 dollars a month for the service.

– We expect it to be a significant and lasting source of revenue, McGurn said during a conference call last night, according to international media.

Trump Media reports a loss of just over 2.2 billion kronor for the past quarter.