Trump Says Truth Social’s Financials Are ‘Very Solid’ With Zero Debt and $200 Million Cash as Media Fixates on Last Year’s $58 Million Loss

The Epoch Times Header

Amid market gyrations of the company behind Truth Social, former President Donald Trump insists its fundamentals are ’very solid’ and its future bright.

Former President Donald Trump said Thursday that media fixation on the $58 million loss of the company behind Truth Social is misguided, touting its fundamentals—which he said include over $200 million cash and no debt—as “very solid.”

President Trump took to Truth Social on April 4 to say that the platform’s performance is “amazing” and its fundamentals are “very solid,” with over $200 million in cash and “zero debt.”

Official first-quarter financial information for Trump Media & Technology Group, the parent company of Truth Social, isn’t available yet.

“Very good for a startup, and growing fast,” President Trump said in a follow-up message, while touting the platform’s growing popularity.

The 45th president’s remarks come after a turbulent week for Trump Media, which went public last week after finalizing its long-awaited merger with Digital World Acquisition Corp. (DWAC), a special purpose acquisition company.

Market Interest Explodes, Then Cools

Following the merger and initial public offering (IPO) last week, market interest exploded in Trump Media, which trades under the ticker symbol DJT. Its stock price soared above $79 per share on its first day of trading, sending the company’s market cap to over $7 billion.

This meant that President Trump, who owns around 57 percent of the combined company, on paper became over $4 billion richer, though a lock-in arrangement prevents him from selling his shares for six months.

After the initial surge of interest, Trump Media shares pulled back to around the $62 mark, where they traded until news broke on April 1 that, in 2023, the company suffered a $58 billion loss.

Word of the loss sent Trump Media shares plunging by roughly 20 percent to around the $45 mark, a price around which it’s traded sideways until today, at a market cap of around $6.3 billion.

Much of the loss appears to be related to an interest expense of $39.4 million on its outstanding debt, according to the 8-K filing. In 2022, the company made a net profit of $50.5 million.

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Columns

Viewers like you

There is no constitutional authority for any spending on public broadcasting – period. Any questions: See Article 1, Section 8 of the U.S. Constitution.

Beyond the Trump-Musk fallout?

We are witnessing an unprecedented, unhinged Democrat effort to use lawfare, big Democrat donors, street theater, congressional disruptions, potty-mouth videos, the administrative state, the legacy media, and discredited pollsters to stop the Trump agenda.

Trans-wormal

No worm ever said "I am anthropomorphizing, I am a butterfly" to a toad or flock of geese and expected acknowledgement and support.

In Greenland’s Icy Capital, Past Troubles Haunt Hopes for the Future

As geopolitical realities and ongoing economic growth raise the stakes, U.S. interest in Greenland and the dream of independence may change things in a big way.

How a Chinese Government Statistician Was Forced to Report Fake Data

Chinese local govt employee produced a non-authorized report on bees and was visited by police and threatened with being sent to a mental hospital.

News

Supreme Court Sides With DOGE in Social Security, Records Cases

The Supreme Court handed DOGE two big wins late on June 6 in its effort to reduce the size of the federal government.

Kilmar Abrego Garcia Returns to US to Face Criminal Charges

Kilmar Abrego Garcia, a citizen of El Salvador, is on his way back to the US, where he will face criminal charges for allegedly smuggling illegal immigrants.

White House Adviser Gives Update on DOGE’s Future Amid Musk–Trump Spat

A top White House adviser said DOGE’s work will likely continue amid a spat between its former chief, Elon Musk, and President Donald Trump.

Trump Administration Asks Supreme Court to Allow Dismantling of Education Department

Trump admin asked Supreme Court to allow it to resume dismantling U.S. Dept of Education, following a lower court’s previous order halting process.

FTC Warns of Rising Student Loan Scams, Says Fraudsters Took Millions From Borrowers

FTC is warning borrowers to steer clear of student loan debt-relief scams, after shutting down group of companies that allegedly charged millions in illegal fees and left customers worse off.

Walmart’s Drone Delivery Coming to 5 More US Cities

Walmart is set to launch its drone delivery service in five more U.S. cities: Atlanta, Charlotte, Houston, Orlando, and Tampa, the company.

Court Orders Trump Administration to Restore AmeriCorps Funding to States

Federal court ordered Trump admin to restore AmeriCorps funding to states. The ruling comes as part of a lawsuit filed by 24 states and DC.

Tax Deductions You Can Take Without Itemizing

It’s not always beneficial to itemize. With IRS’s current standard deduction for 2025 most Americans who can’t itemize go with standard deduction.
spot_img

Related Articles