Trump Media lost nearly $60m last year. So how is it worth billions? We explain the ex-president's...
So what is the Truth Social platform, who owns it, how many users does it have, and how much money does it make? And is it the answer to Mr Trump's spiralling legal bills?
Trump Media & Technology Group was founded in 2021 after Mr Trump lost the presidential election and was temporarily booted from major social media platforms, including Twitter and Facebook, which accused him of inciting violence.
In 2022 Trump Media launched its first - and to date only - product for the public: the social media platform Truth Social.
Trump Media claims about 9m Truth Social accounts have been created since its start.
Mr Trump has roughly 7m followers on Truth Social, far fewer than the 87m he has on X. The former president's X account was reinstated towards the end of 2022, but he has only posted once since then.
Trump Media lost nearly $60m in 2023, while bringing in only about $4m in revenue from advertising, according to its latest financial update, which also warned of "Substantial doubt" about its ability to continue as a business.
In this case, Mr Trump has also agreed to post non-political messages first on Truth Social.
Trump Media, which is led by former Republican congressman Devin Nunes, was originally a private company, and Mr Trump owned 90% of it.
It went public in March 2024 via what is known as a SPAC - basically, it was acquired by a company whose shares were already trading publicly on the stock market, in this case, Digital World Acquisition Corp. Mr Trump now owns about 57% of shares in the combined firm, which was renamed Trump Media and trades under the DJT ticker - Mr Trump's initials.
The next biggest owner of TMTG is the Kuwaiti-headquartered investment firm ARC Global Investments, which has a 6.9% stake, according to Trump Media filings with financial regulators.