Trump Media & Technology Group, the parent company of Truth Social, reported a significant financial loss of $400.9 million for the last fiscal year, with annual revenue dropping 12% to $3.6 million. The company cited a revenue-sharing agreement with an undisclosed advertising partner as a contributing factor to its losses. Additionally, after winning the presidency, Donald Trump transferred shares valued at approximately $4 billion into a trust managed by his son, Donald Trump Jr. The company, trading as a SPAC, has yet to disclose traditional performance indicators common in the social media sector.
Trump Media & Technology Group reported a staggering loss of $400.9 million, attributing part of its troubled finances to an undisclosed revenue-sharing agreement with an advertising partner.
After Trump's victory, he transferred shares worth $4 billion to a trust, controlled by Donald Trump Jr., indicating a strategic financial maneuver amid the company's financial hurdles.
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