Trump’s Truth Social to charge Wall Street $1.2M a year for early access to posts

Trump’s Truth Social to charge Wall Street $1.2M a year for early access to posts The president’s media company has tried its hand at a half-dozen new lines of business to lift its stock, but nothing has worked - Bookmark - CommentsGo to comments After a series of unsuccessful attempts to expand into secondary business lines to boost its stock price, the media enterprise tied to the president is returning to its core operations. In a conference call with investors on Monday, executives at the company behind Truth Social revealed that the firm is scaling back recent diversification efforts—which spanned financial services, online gambling, bitcoin storage, and nuclear energy—to focus on its primary platform through a new product: Truth API. The specialized subscription offers paid, accelerated access to President Trump’s real-time updates for $60,000 to $100,000 per month—a strategy drawing intense scrutiny from ethics advocates and congressional Democrats. Originally created after Trump was suspended from mainstream platforms, Truth Social has shifted from a "free speech" hub into an early-access outlet for presidential news on trade tariffs, central bank policy, and international developments. Chief Executive Kevin McGurn reported that ten high-speed trading organizations have already enrolled, generating between $7 million and $12 million in annual recurring revenue—two to three times the firm's total top-line revenue from the prior year. McGurn added that prospective clients include news agencies, AI developers, and data center operators. McGurn dismissed concerns from good-government groups, arguing that comparable high-speed data feeds are standard across the social media industry. For Wall Street trading desks, receiving presidential announcements seconds ahead of the general public offers significant financial advantages. The cash injection comes as Trump Media seeks to stabilize its balance sheet following cumulative losses exceeding $1 billion since early last year. On Monday, the company reported a net loss of $238 million for the period ending June 30, largely driven by paper write-downs on bitcoin holdings. The firm also faces near-term financial pressure from $1 billion in debt agreements containing early repayment clauses, allowing lenders to demand note repurchases on Nov. 30. That date falls shortly after the midterm elections, which could bring increased regulatory oversight and congressional investigations if leadership changes hands. A longer-term question remains whether commercial trading firms will continue paying up to $1.2 million annually for rapid updates once Trump’s tenure in office ends. Alongside its primary social media platform, McGurn confirmed the enterprise will retain its stake in nuclear fusion. Nevertheless, market sentiment remains subdued. Shares of Trump Media fell an additional 8% on Monday to close at $9.39—down sharply from its 2024 debut near $62. Join our commenting forum Join thought-provoking conversations, follow other Independent readers and see their replies Comments [Image text:] DONALDJ.TRUMP European Country and he word and give their s1 serious Wi still de efinaly around nnedy, Ja appen.Ma 11injections UnitedStates 72injections Source:MSAssesme