New York (AP) – The parent company of the Social Society of President Donald Trump Social truth networking site said that he had lost $ 400.9 million last year and that his annual income decreased 12% to $ 3.6 million.
Trump Media & Technology Group reported his earnings Friday evening, blaming the losses in part on an income sharing agreement with an unhappy advertising partner.
After winning The American presidential election in November, Trump in December transferred all its actions – worth around 4 billion dollars on paper – as a “gift in good faith” to the revocable trust by Donald J. Trump. Trump’s actions represented more than half of the company’s shares.
Donald Trump Jr., the oldest of the president’s five children, is the only trustee and has the only voting and investment power on all titles belonging to the trust.
Trump created Truth Social after being banished from Twitter and Facebook after January 6, 2021, Capitol Riot.
Citing its “early development stadium”, the parent company based in Sarasota, Florida, said that it did not report the “traditional key performance indicators” used by other social media companies, such as the number of people who have registered in the service, use it on a daily or monthly basis or see their ads.
Trump media has become listed on the stock market last March after merger with a shell company Called Digital World Acquisition Corp., an example of what is called a special acquisition company, or SPAC, which can give young companies faster and easier ways for their actions to be negotiated publicly.
