Co-founder of Trump Social Media Firm Sues Over M Slot Machine Spending

Co-founder of Trump Social Media Firm Sues Over $3M Slot Machine Spending

A company managing Trump's social media accounts sues co-founder for allegedly spending $3M on slot machines and luxury items.

Editorial Desk

September 23, 2026 One Min Read

POLICY WIRE — West Palm Beach, United States — A firm that manages some of Donald Trump’s social media accounts has filed a lawsuit against its co-founder, accusing him of embezzling millions of dollars, including at least $3 million spent on slot machine gambling.

The legal action, filed in U.S. District Court in West Palm Beach, Florida, claims Derek Utley, who previously served as chair and CFO of X Strategies, used company funds to support an extravagant lifestyle, including high-end cars, designer clothing, and expensive vacations.

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The lawsuit states that Utley gambled nearly $29 million on slot machines in 2025 alone, losing $3 million in the process. He also allegedly used company money to rent luxurious condos and attend exclusive events. Utley has denied the allegations, stating he will address them through legal channels.

Reporting by Policy-Wire (PW)

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