The Daily Beast
MANDEL NGAN / AFP via Getty Images President Donald Trump’s media empire was hit with a brutal reality check. Trump Media & Technology Group, the parent company of Truth Social, reported a staggering $405.9 million net loss for the first quarter of 2026 on just $871,200 in revenue, according to earnings released Friday. The company blamed the bloodbath largely on paper losses tied to digital assets and stock compensation. Still, the numbers are eye-popping even by Truth Social standards. Trump Media trades under the ticker DJT, and Trump remains the company’s biggest shareholder, controlling roughly 41 percent through his revocable trust. Despite the ugly results, the company tried to project confidence, touting its “strong balance sheet” while promising more growth for Truth Social, streaming platform Truth+, and fintech venture Truth.Fi. The disastrous quarter also came weeks after former GOP congressman Devin Nunes abruptly stepped down as CEO. Former Hulu and Vevo executive Kevin McGurn is now serving as interim chief executive. Trump Media’s stock has already plunged roughly 35 percent this year. The White House didn’t immediately respond to the Daily Beast’s request for comment. Read it at Variety Read more at The Daily Beast.
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