Trump Media and Technology Group

History and Founding

Trump Media & Technology Group was incorporated in Delaware on February 8, 2021, by Andy Litinsky and Wes Moss, former contestants on Trump's reality show The Apprentice. The idea for a Trump-branded social media platform emerged after Trump was banned from Twitter following the January 6 Capitol attack. Litinsky and Moss pitched the concept to Trump, who became the company's dominant shareholder and public face. In October 2021, TMTG announced a merger with Digital World Acquisition Corp. (DWAC), a SPAC formed with the help of Shanghai-based ARC Capital. The deal faced regulatory delays and legal challenges, including investigations by the SEC and DOJ, before closing on March 25, 2024. TMTG began trading on Nasdaq under the ticker DJT.

Product Portfolio

TMTG's core product is Truth Social, a social media platform launched in beta on February 21, 2022, and widely released in April 2022. It offers microblogging functionality similar to X and positions itself as a free-speech alternative. Trump uses it as his primary social media outlet. The platform has attracted millions of users but has faced criticism over content moderation and technical issues. In 2024, TMTG launched Truth+, a live TV streaming service built on a proprietary content delivery network. It carries channels such as Newsmax, Real America's Voice, and OAN, along with on-demand movies and TV shows described as 'non-woke'. The company has also announced a forthcoming financial services and FinTech ecosystem, including a 'non-cancellable' digital payments system, though specific products remain unlaunched as of mid-2026. Additionally, TMTG has explored ventures in blockchain, NFTs, and video-on-demand.

Corporate Structure and Ownership

TMTG is a publicly traded company (Nasdaq: DJT). The largest shareholder is the Donald J. Trump Revocable Trust, holding approximately 52% of shares. The board of directors is chaired by Boris Epshteyn. Key leadership includes interim CEO Kevin J. McGurn and CFO Phillip Juhan. The company was reincorporated in Florida effective April 30, 2025, and its headquarters are in Sarasota, Florida.

Financial Performance

In 2024, TMTG reported revenue of US$3.6 million, an operating loss of US$186 million, and a net loss of US$400.9 million. Losses continued into 2025 and 2026: Q4 2025 net loss of US$605.5 million, Q1 2026 net loss of US$405.9 million. As of year-end 2025, the company held US$2.1 billion in cash, cash equivalents, and short-term investments.

Stock Performance

Shares began trading on March 26, 2024, peaking above US$79 in 2024 before declining. By May 2026, the market cap had fallen to approximately US$2.47 billion.

Recent Developments

In December 2025, TMTG announced a merger agreement with TAE Technologies valued at over $6 billion, aimed at developing utility-scale fusion power. The transaction is expected to close in mid-2026.