Latest news with #TrumpMediaandTechnologyGroup
NDTV
07-07-2025
- Business
- NDTV
All About Truth Social: How Many Subscribers It Has, Who Are Prominent Users
When Trump Media and Technology Group and T Media Tech LLC launched Truth Social in February 2022, they claimed to offer an alternative to "big tech tyranny" and to protect users' freedom of speech. And despite US President Donald Trump using it to announce the most important policy and ceasefire decisions, the platform is struggling to retain its American user base. Truth Social's fading popularity received another blow when Trump's friend-turned-foe, Elon Musk, claimed he had never heard of the platform. His remark came hours after Trump attacked him for founding a new political party. " What's Truth Social?" Musk wrote on X (formerly Twitter). In another post, he added, "Never heard of it". The Number Story Although Truth Social refuses to make user counts public, the site has about two million active users each month and 25.5 million visits. As of February 2024, research firm Similarweb reported there are roughly 5 million active users on the microblogging platform. Monthly users on two rival social media networks, Facebook and TikTok, are approximately 1 billion and 3 billion, during the same period. Truth Social's biggest issue is its inability to retain users, with about 49 per cent of people not using the app for at least 61 days. A typical user spends fewer than two days a week on the platform. According to the platform's user demographics, 43 per cent of active users are women and 57 per cent are men. The average monthly visits to the website, from May 2022 to April 2023, dropped by more than 39 per cent to little over 4 million from May 2023 to April 2024. According to three separate data organisations, Truth Social's monthly active user counts in the US dropped sharply in the last few months of 2023, as reported by CNBC. However, the platform's traffic increased in the first quarter of 2024 when Trump Media went public. Who All Are Using It Besides the US President, Indian Prime Minister Narendra Modi joined the Trump-owned microblogging platform back in 2019. PM Modi said he was "delighted" to be on the platform in his first post from March, which included a picture of him with Trump taken in Houston, Texas, during his 2019 US tour, BBC reported. Other prominent personalities on the social media platform include Donald Trump Jr, Dan Bongino, Sean Hannity, Eric Trump, Dinesh D'Souza, Devin Nunes, and Marjorie Taylor Greene, among others. Republicans make up a large portion of the user base on the politically charged social media site. Democratic voters are quite unlikely to use the platform on a regular basis, let alone give it a try, reports say.
Gizmodo
23-06-2025
- Business
- Gizmodo
Trump Media Has a Bold Plan to Regain Confidence
Trump Media and Technology Group, the company behind Truth Social, announced an ambitious new financial strategy on Monday: it's going to spend up to $400 million to buy its own stock. In a press release, CEO Devin Nunes framed the move as a resounding 'vote of confidence in our Company, our stock, and our strategic plans.' With approximately $3 billion in cash on its balance sheet, Nunes argued, the company has the flexibility to take actions that 'support strong shareholder returns.' But in the world of finance, a massive stock buyback can be interpreted in two ways. It can be a sign of a healthy, mature company returning cash to its shareholders. Or, it can be seen as an attempt to prop up a sagging stock price by reducing the number of shares on the market, thereby artificially inflating the value of the remaining ones. The announcement comes as the company's stock has lost almost 48% of its value since the beginning of the year, despite some improvements in its financials. In the first quarter, Trump Media significantly narrowed its net loss to $31.7 million from $327.6 million a year earlier, and its total costs were more than halved to $40.35 million. President Trump was the largest shareholder in Trump Media, but after his victory in the 2024 presidential election, he transferred his shares to the Donald J. Trump Revocable Trust in December. At the time, he claimed to own 115 million shares, which were then worth nearly $4 billion. The company's stock is notoriously unpredictable, often moving more on the political fortunes of its namesake than on its actual business performance. Truth Social, its flagship product, remains a niche social media platform, and the company has yet to prove a sustainable path to profitability. This raises a critical question: is a $400 million buyback really the best use of capital for a company that should be investing in growth, user acquisition, and technological innovation? Or is this a move designed simply to generate a positive news cycle to counter the stock's instability? The company's finances are a curious mix of traditional corporate maneuvers and crypto-age speculation. The press release carefully notes that this buyback will be funded separately from its previously announced Bitcoin treasury strategy. That crypto initiative was bolstered last month by a $2.3 billion private placement from institutional investors, with the funds earmarked for buying Bitcoin. This dual approach suggests Trump Media is trying to appeal to two different crowds at once: the Wall Street suits who like buybacks and the MAGA crypto enthusiasts who like digital gold. While the company spins this as a power move, it's hard to ignore the underlying reality. A company with a huge cash pile but an unproven business model is choosing to spend a fortune on its own hype. For investors, the move might provide a short-term boost. But for critics, it looks less like a 'vote of confidence' and more like a high-stakes attempt to keep the magic alive.
Yahoo
23-06-2025
- Business
- Yahoo
Trump Media Share Buyback to be Funded Separately From BTC Treasury Strategy
Trump Media and Technology Group (DJT), the parent company of the social media platform Truth Social, is planning a $400 million share buyback program. President Donald Trump's media firm said that the repurchase would be funded separately from and not alter its bitcoin treasury strategy. The buyback will be conducted through open market transactions, and the repurchased shares will be retired by the company, Trump Media announced on Monday. "Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities," CEO Devin Nunes said. Trump Media recently raised more than $2 billion from around 50 institutional investors to create a BTC treasury, for which and Anchorage Digital will provide custody services. DJT shares climbed over 3.8% to $18.50 in early trading on Monday following the buyback announcement. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-06-2025
- Business
- Yahoo
With its stock in sharp decline, Trump's media company will buy $400 million of its own shares
NEW YORK (AP) — President Donald Trump's media company plans to buy back up to $400 million of its stock, which have lost 46% of their value this year. Trump Media and Technology Group, which operates the Truth Social media platform, said Monday that the acquisition will improve its financial flexibility. It will retire the shares after they are purchased, meaning these particular shares can't be reissued. Companies can drive their stock higher by acquiring or removing the number of company shares outstanding. Trump is the largest stakeholder in Trump Media, with about 114 million shares. Shares of Trump Media rose just over 2% Monday. But the shares appeared to peak about a month after the company went public in late March. Shares have been on a steady, downward trajectory since. The company said early this year that it lost $400.9 million in 2024 and its annual revenue declined 12% to $3.6 million. After winning the U.S. presidential election in November, Trump transferred all of his shares in the company — worth around $4 billion on paper — as a gift to the Donald J. Trump Revocable Trust. Trump's shares amounted to more than half of the company's stock. The company said Monday that it will fund the buyback separately from its Bitcoin treasury strategy. Under that plan, institutional investors will buy $2.5 billion in the company's stock with the proceeds going to build up a bitcoin reserve. Trump Media joins other companies with similar cryptocurrency strategies, including cloud and mobile software developer MicroStrategy, which is building a reserve containing billions worth of bitcoin. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
23-06-2025
- Business
- Business Standard
Trump's media company to buy back $400 million in shares amid stock slump
President Donald Trump's media company plans to buy back up to $400 million of its stock, which have lost 46 per cent of their value this year. Trump Media and Technology Group, which operates the Truth Social media platform, said Monday that the acquisition will improve its financial flexibility. It will retire the shares after they are purchased, meaning these particular shares can't be reissued. Companies can drive their stock higher by acquiring or removing the number of company shares outstanding. Trump is the largest stakeholder in Trump Media, with about 114 million shares. Shares of Trump Media rose just over 2 per cent Monday. But the shares appeared to peak about a month after the company went public in late March. Shares have been on a steady, downward trajectory since. The company said early this year that it lost $ 400.9 million in 2024 and its annual revenue declined 12 per cent to $ 3.6 million. After winning the US presidential election in November, Trump transferred all of his shares in the company worth around $ 4 billion on paper as a gift to the Donald J. Trump Revocable Trust. Trump's shares amounted to more than half of the company's stock. The company said Monday that it will fund the buyback separately from its Bitcoin treasury strategy. Under that plan, institutional investors will buy $ 2.5 billion in the company's stock with the proceeds going to build up a bitcoin reserve. Trump Media joins other companies with similar cryptocurrency strategies, including cloud and mobile software developer MicroStrategy, which is building a reserve containing billions worth of bitcoin.
