Trump Media Revenue Triples After Charging Insider Fees for Real-Time Post Access
Trump Media revenue hit $3M after selling Truth API access to traders. Senators demand SEC probe into alleged insider advantage fees.
POLICY WIRE — New York, United States — Revenue for Trump Media & Technology Group has surged to three times its level from the previous year. The growth follows the launch of a paid service that grants select financial firms expedited access to the president’s social media posts.
The company, which operates the Truth Social platform, reported generating $3 million during the third quarter ending September 30. Approximately $1.8 million of that total came from subscriptions to the Truth+ streaming service and the new Truth API.
Truth API was introduced over the summer to provide news outlets and Wall Street investors with real-time access to posts from high-ranking Truth Social accounts. A July press release highlighted the immediate nature of this data feed as a key feature for subscribers.
The cost of this privileged access is significant. Reuters reported in October that Bloomberg, Susquehanna International Group, and Jump Trading each paid between $60,000 and $100,000 monthly for the service.
Democratic Senators Elizabeth Warren of Massachusetts and Adam Schiff of California have criticized the arrangement, framing it as an abuse of presidential office for personal financial gain.
In a letter sent to Securities and Exchange Commission Chair Paul Atkins in July, the senators urged the agency to investigate whether the new subscription model violates federal securities laws.
Warren and Schiff stated that charging insiders for earlier access to market-moving information, while the general public waits, undermines public trust. They described the practice as a benefit to the president’s company at the expense of ordinary investors.
Trump, whose various businesses generated at least $2.2 billion last year, has dismissed allegations that he is profiting from his presidency.
Speaking on 60 Minutes on Sunday night, Trump said he devotes minimal time to thinking about his net worth. He added that he has accumulated far more wealth than he ever anticipated and noted that he does not accept a salary while serving as president.
Despite the revenue growth, Trump Media’s stock price suffered a significant decline following the midterm elections, where Democrats outperformed Republicans.
The shares dropped by approximately 30 percent, hitting a record intraday low of $3.80 per share last Thursday.
Interim CEO Kevin McGurn defended the company’s performance during an earnings call on Monday. He stated that while market reaction was driven by election headlines, the underlying business operations remained stable.
Reporting by Policy-Wire (PW)
