The parent company behind Donald Trump’s social media platform Truth Social has reported a heavy financial loss, despite the former US president’s near-daily activity on the platform and its millions of followers.
Trump Media & Technology Group (TMTG) revealed on Friday that it recorded a net loss of US$406 million (around RM1.9 billion / HK$3.17 billion) for the first quarter of 2026, with revenues of just US$900,000 during the same period—highlighting a sharp imbalance between valuation and earnings.
The company said the steep losses were largely driven by a collapse in the value of its cryptocurrency-related holdings, which significantly impacted its financial performance. The digital asset market downturn was cited as a key factor behind the poor results.
Despite its high-profile branding and political visibility, TMTG continues to struggle commercially. The company’s market capitalisation stands at roughly US$2.47 billion, yet its quarterly revenue remains minimal in comparison, raising concerns over its long-term business model.
TMTG shares have also taken a major hit, plunging from previous highs of around US$58 to US$97 down to below US$10, representing a decline of more than 67% from peak levels. Investors have increasingly questioned the sustainability of the company’s strategy.
Trump, who holds around 41% ownership in TMTG through a trust arrangement, frequently uses Truth Social to make public statements and political announcements, further linking his personal brand to the platform’s fortunes.
The company has also expanded into digital finance, previously announcing a US$2.5 billion investment in cryptocurrency. However, the sector’s volatility has weighed heavily on its portfolio, with Bitcoin prices swinging sharply over the past year.
In addition, TMTG has announced plans for a merger involving US-based firm TAE Technologies, which is developing nuclear fusion technology, with the deal expected to be completed by mid-2026.
