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.
As wildfires spread across Southern California this week, President-elect Donald Trump cast blame on state leaders and called for California Gov. Gavin Newsom to resign in a series of Truth Social posts.
Greenland's prime minister said Friday that the mineral-rich Arctic territory's people don't want to be Americans, but that he understands U.S. President-elect Donald Trump's interest in the island given its strategic location and he's open to greater cooperation with Washington.
Los Angeles firefighters have made progress containing wildfires that have claimed at least 10 lives and caused unprecedented damage. In the weeks ahead, officials and residents will examine whether local authorities' warnings and early responses adequately prepared the city for the escalating crisis.
Eric Trump has had discussions about launching a new line of Trump-branded vodka in the United States, according to people familiar with the matter, but it was unclear whether the deal would be finalized by Jan. 20, when his father, President-elect Donald Trump, will be inaugurated.
The ISIS-inspired attacker who killed 14 people in a truck rampage on New Year's Day in New Orleans fired at police from inside his vehicle before officers fatally shot him, police bodycam footage released Friday shows.
Washington — President Biden will deliver a farewell address to the nation from the Oval Office on Wednesday, Jan. 15, the White House announced Friday, as he prepares to hand over power to President-elect Donald Trump.
Lockheed Martin, the multinational defense and aerospace firm, is one of the latest big businesses to donate a million dollars to President-elect Donald Trump's inaugural committee.
The IRS said Friday it will kick off the new tax season on Monday, Jan. 27, allowing taxpayers to begin filing their 2024 tax returns.
The IRS said Friday it will kick off the new tax season on Monday, Jan. 27, allowing taxpayers to begin filing their 2024 tax returns.
Meta is ending its key diversity, equity and inclusion programs, joining other corporate giants like Ford, McDonald's and Walmart that have pulled the plug on their DEI initiatives.
The Biden administration on Friday announced it would extend the temporary legal status of nearly 1 million immigrants from El Salvador, Sudan, Ukraine and Venezuela, utilizing a program that is expected to be curtailed by the incoming Trump administration.