Trump Media, valued at $7 billion, booked less than $1 million in first-quarter sales
CBSN
Trump Media & Technology Group, a startup majority-owned by former President Donald Trump that is valued at nearly $7 billion after going public in March, said it booked $770,500 in revenue during the first quarter, down from $1.1 million during the year-ago period.
The company, whose main asset is the social media network Truth Social, also reported losing $327.6 million during the first three months of 2024 due largely to a charge for a financial transaction, according to a Monday regulatory filing. That compares with its year-earlier loss of $210,000.
The report offers a glimpse into the finances of the newly public company, which says its mission is to provide an alternative to Facebook and other social media platforms. Since going public, Trump Media — whose shares trade under the ticker DJT, the same as former President Donald Trump's initials — have had a wild ride, sinking in its first few weeks of trading before rebounding to reach its current market capitalization.
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At least three senior staffers at the National Security Council have been fired, with more firings expected, two U.S. officials with knowledge tell CBS News.
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Billionaire Elon Musk will continue to be a "friend and an adviser" to President Trump after he formally leaves government, Vice President JD Vance said Thursday on Fox News.
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The U.S. State Department revoked the visas of members of a Mexican band after they projected the face of a drug cartel boss onto a large screen during a performance in the western state of Jalisco over the weekend.
The mayor of one of North Dakota's largest cities resigned after an investigation into him mistakenly sending a lewd video to the city attorney.
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For years, White House press conferences included sign language interpreters for the deaf.
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