Trump Media cashes in on high-speed access to social media posts
Trump Media and Technology Group reported a 205% quarterly revenue increase driven largely by selling a real-time, low-latency feed of Truth Social posts to media, financial firms, and others via a service nicknamed the Truth API. The offering, priced between $60,000 and $100,000 per month, positions high-speed access to posts as a market-moving asset for subscribers. The company’s largest single shareholder is Donald Trump’s revocable trust, which owns over 41% of the stock, while the stock’s market value stands around $1.13 billion despite a year-to-date decline. Critics view the arrangement as profiting from the president’s posts, prompting scrutiny from lawmakers. The forward outlook centers on ongoing regulatory reviews and potential implications for market dynamics tied to Truth Social.
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Trump Media reported a 205% jump in revenue for the third quarter, attributing the rise mainly to the Truth API that delivers posts in real time to paying subscribers.
The Truth API charges between $60,000 and $100,000 per month for a direct feed of Truth Social posts to entities such as newsrooms and Wall Street traders.
Donald Trump’s revocable trust remains the largest single shareholder, owning more than 41% of Trump Media, with the trust naming Donald Trump Jr. as sole trustee in a June SEC filing.
Twitter-like market impact was anticipated by the company, noting that markets already move on Truth Social posts and that low-latency feeds could attract algorithmic trading firms.
Bloomberg and two Wall Street firms were reported as early subscribers; Reuters noted that several major subscribers had signed up as of the prior month.
Top Democratic lawmakers criticized the arrangement as an improper personal benefit, urging the SEC to assess potential securities law violations.
Trump defended his finances in a CBS interview, claiming he is not focused on net worth and highlighting extensive disclosures that detail earnings from various assets, while the White House denies conflicts of interest.