Truth Social, created by Donald Trump post his ban from Twitter and Facebook, faced considerable financial struggles, reporting a loss of $400.9 million last year. Revenue declined by 12% to $3.6 million. This loss is partly attributed to a revenue-sharing deal with an undisclosed advertising partner. Following his presidential election victory, Trump transferred his shares, valued at around $4 billion, to the Donald J. Trump Revocable Trust, managed solely by his son, Donald Trump Jr., emphasizing a strategic realignment of ownership amidst the platform's challenges.
After losing $400.9 million last year, Truth Social, created by Trump post his social media bans, remains under the control of his son.
Trump transferred his shares to a trust after winning the presidential election, illustrating a strategic shift in his ownership of Truth Social.
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