Trump’s social media company has lost over $300 million so far in 2024

Trump Media & Technology Group, which runs Donald Trump’s Truth Social platform, has filed its first quarter revenue numbers to the Securities and Exchange Commission. The good news for MAGA-loving stockholders is that the company, of which Trump owns a reported 64.9% of the outstanding shares, pulled in a cool $770,500. Now get your sad horn sound ready: It also reported a net loss of $327.6 million.

In a statement, the company’s CEO, former House member and Republican attack dog Devin Nunes, said the losses were due to costs in finalizing a merger with shell company Digital World Acquisition Corp. Nunes, best known for suing parody Twitter accounts, said Trump Media would now be exploring and pursuing “a wide array of initiatives and innovations to build out the Truth Social platform including potential mergers and acquisitions activities.”