Trump Media & Technology Group burned through a staggering $712 million last year while bringing in a mere $3.7 million in revenue, a ratio as upside-down as Trump has turned the country.
There's no actual business here, just a megaphone for a doddering old man.
TMTG has desperately attempted to reinvent itself several times over the last year, from dipping its toes into the murky waters of prediction markets — the company's director and Donald Trump's son, Donald Trump Jr., remains deeply involved with both Polymarket and Kalshi — and massive purchases of billions of dollars worth of Bitcoin.
Most recently, the company surprised investors with an unexpected foray into the nuclear fusion industry. In December, TMTG announced it was merging with a fusion power company, TAE, formerly called Tri Alpha Energy — a moonshot energy sector play that could take years, if not decades, to pay off.
The company has also hinted at spinning off Truth Social, which could see it shedding its "communication services company" label once and for all.
Futurism
Truth Social is one hell of a scam.
Previously:
• In true Trump fashion, Truth Social is not paying its bills
• Truth Social 'reports $31.6 mln net loss since launch'— and is suing 20 news sites who reported that it lost more
• Confused Trump 'texts' Elon Musk on Truth Social, feeling lost without his bestie: 'Where are you?'
• Trump's Truth Social tries to pitch losing funding as good news
