Trump Media & Technology Group

Open full sized image

The idea for Trump Media came from two former contestants on Donald Trump’s reality TV series The Apprentice.

© Rafael Henrique/stock.adobe.com

Trump Media & Technology Group is an American media and technology company best known for operating Truth Social, the social media platform founded by President Donald Trump. Established in 2021 and headquartered in Sarasota, Florida, Trump Media had 31 full-time employees as of December 2025. The company became publicly traded in 2024 and expanded into streaming, financial services, and digital assets. In 2025, Trump Media agreed to merge with fusion-energy company TAE Technologies. Trump Media shares trade on the Nasdaq under the ticker symbol DJT.

Trump Media was founded in February 2021 after Andy Litinsky and Wes Moss, two former contestants on Trump’s reality TV series The Apprentice, pitched Trump on creating a branded social media platform. The idea followed Trump’s ban from Twitter and other major social media platforms after the January 6, 2021, attack on the U.S. Capitol.

Trump Media launched its Truth Social app in Apple Inc.’s (AAPL) App Store in February 2022. Google initially declined to approve the app for its Play Store over concerns about its content moderation practices. Truth Social became available that October after Trump Media agreed to enforce policies that met Google’s requirements.

In October 2021, Trump Media agreed to merge with Digital World Acquisition Corp., a special purpose acquisition company (SPAC), or blank check company, that had completed its initial public offering the previous month. The merger, which was originally expected to close much sooner, was delayed for more than two years amid regulatory scrutiny and legal disputes. Digital World’s board ousted chair and chief executive officer Patrick Orlando in March 2023 amid the turmoil.

Later that year, Digital World agreed to pay an $18 million civil penalty to settle Securities and Exchange Commission charges that it had made misleading statements to investors about its discussions with Trump Media before Digital World’s IPO.

Digital World shareholders approved the merger on March 22, 2024, and the deal closed three days later. Trump received 78.75 million shares, representing 57.3% of the combined company’s outstanding shares at the time. Trump Media shares began trading on the Nasdaq on March 26.

Trump Media stock experienced substantial volatility after the company became publicly traded in 2024. Financial analysts characterizing it as a meme stock, meaning its price can be influenced by investor enthusiasm and sentiment as well as the company’s financial performance. In its first quarterly filing after becoming a public company, Trump Media reported $770,500 in revenue and a net loss of $327.6 million.

For all of 2024, Trump Media generated $3.6 million in revenue. Revenue remained about the same in 2025, at $3.7 million, while the company reported a net loss of about $712 million, most of which reflected unrealized losses on digital assets and related securities.

Trump Media began building a digital asset treasury in 2025 that included Bitcoin and Cronos, among other cryptocurrency investments. In the second quarter of 2026, the company reported $1.7 million in revenue and a net loss of $238.1 million, much of which reflected unrealized losses on digital assets and other investments.

Trump Media launched Truth+, a streaming service, and Truth.Fi, a financial services business that includes exchange-traded funds and digital asset investments. In 2026, the company launched Truth API, a paid data service that provides high-speed access to posts from prominent Truth Social accounts, primarily for financial firms and other institutional customers. The service quickly began generating revenue.

Trump Media’s most significant move beyond social media came in December 2025, when it agreed to merge with TAE Technologies, a privately held fusion-energy company, in an all-stock transaction valued at more than $6 billion. Under the agreement, shareholders of Trump Media and TAE would each own about 50% of the combined company. If completed, the transaction would make Trump Media the holding company for TAE and its subsidiaries as well as Truth Social, Truth+, and Truth.Fi.

The merger was initially expected to close by mid-2026, but Trump Media and TAE later said they were aiming to complete it in the fourth quarter of 2026. In June, the companies also abandoned a proposal to spin off Trump Media’s media assets, including Truth Social, into a separate publicly traded company. They said that, if the TAE merger closes, the combined company’s board would consider “potential strategic alternatives” for the media businesses.

In April 2026, amid a sharp drop in Trump Media’s stock price, CEO Devin Nunes left the company. Nunes, a former Republican congressman from California, had led the company since 2022. Trump Media gave no reason for his departure and named former Hulu executive Kevin McGurn interim CEO.