Company also announced a paid service for early access to president’s posts on policies to the social media site
Donald Trump’s media company – which owns the Truth Social platform favored by the US president – posted a $238m loss in the second quarter.
Trump Media & Technology on Monday reported that losses in the three months through June came as the company branched into new ventures including crypto. The company’s new chief executive, Kevin McGurn, announced at a conference call about the earnings that after a yearlong effort to expand into online betting and crypto, the company would be refocusing on social media.
What does he care, his wealth shot up from 5b to 11b since retaking office
He’s covering his losses with the American taxpayers money.
No doubt
He doesn’t care about companies, he bankrupts them constantly…
Neither him nor his family is holding any of that.
They bought a bunch for nothing. Then had the company buy a shit ton.
Then after the rubes stopped buying, they sold their personal stashes, and let the company take the hit on crypto loss, to cover other gains. that way they could “insider trade” the crypto dump tip out in waves to different people.
At the end of it, this loss covers gains elsewhere.
He is allergic to loosing money no matter how much he steals it. Just look at the lengths he goes to avoid paying sexual assault compensation which is peanuts compared to all grifts.
He didn’t lose money. He’s using Truth social to manipulate stocks. This $238m was an investment that let him make billions.
No taxes paid if he can manipulate tax returns to show a loss
You think Trump is still doing taxes? 😂
And he’s still bitching about paying E. Jean Carroll.
He needs an L to offset his illegal gains