(VOR News) – President Donald Trump’s Truth Social, a social media network, lost $400.9 million in the previous year.

Additionally, it experienced a 12% decrease in annual revenue, bringing the total to $3.6 million.

President Donald Trump of the United States employs Truth Social.

The circumstances had a substantial and adverse effect on the annual sales of Truth Social Corporation. We have been provided with this information by the organisation responsible for Truth Social, a social networking platform that President Donald Trump frequently employs. This information has been communicated to us.

The financial information of Donald Trump Media & Technology Group was disclosed to the public on Friday evening, which contributed to the company’s losses. The organisation determined that its financial difficulties were primarily due to a covert revenue-sharing agreement with an advertising partner.

The company’s current financial difficulties may be attributable to this transaction. In December, Donald Trump presented the Donald J. Trump Revocable Trust with a “bona fide gift” following his victory in the presidential election conducted in the United States back in November.

In response to his resounding electoral triumph, he issued this declaration. He sold all of his shares, which, according to the narrative, were valued at approximately four billion dollars in terms of investments, in order to achieve this.

He employed that specific methodology to achieve this objective. At that time, Trump was the sole shareholder of the corporation, possessing more than half of the company’s shares. He was the sole shareholder of the corporation. The current state of affairs is a direct result of Trump’s ownership of the organisation.

Donald Trump Jr. is the sole member of the president’s family serving as a trustee of the trust, out of the five children. The trust’s trustees are the offspring who are still alive. It is generally acknowledged that he is the group’s grandchild, as he is the oldest of the five children.

Additionally, he is the sole individual authorised to invest in and vote on any securities that the trust possesses.

You can’t have this authority if you’re not Donald Trump.

Consequently, he is the sole individual who is competent to achieve this specific objective.

President Donald Trump established Truth Social as a means of atoning for his actions in response to the violence that transpired at the Capitol on January 6, 2021.

This decision was reached after he was prohibited from using social media platforms such as Facebook and Twitter, respectively. Truth Social was established in order to allow him to atone for his transgressions. President Donald Trump was able to convey his apologies for the transgressions he had committed in the past by establishing Truth Social.

The primary company, which is headquartered in Sarasota, Florida, has stated that it does not offer “traditional key performance indicators” that are employed by other social media organisations. This is because it is still in the “early development stage.”

This is due to the company’s ongoing activities in data collection. This is the direct consequence of the organization’s unwavering efforts to acquire the skills required for success.

These metrics include the number of daily and monthly visitors to the website, the number of registered users, and the number of individuals who have viewed the website’s advertisements.

In March of the previous year, Donald Trump Media made its public debut as a consequence of the merger between the shell firm Digital World Acquisition Corp. and Trump Media. Digital World Acquisition Corp. is a special purpose acquisition company (SPAC) that enables startups to achieve expedited public listings.

The merger was ultimately completed in March of the previous year. The merger occurred in March of the previous year.

SOURCE: PI