Trump’s social media company, Truth Social, has recently seen a massive rise in its value, surpassing the worth of X (formerly Twitter). Truth Social’s parent company, TMTG, has experienced a 333% increase in value since late September, reaching a valuation of $10.6 billion.
Meanwhile, Fidelity Investments, which holds shares in X, has updated its estimated value for X, putting it at $9.4 billion. This marks a huge decline from when Elon Musk bought X for $44 billion in October 2022, meaning the platform’s worth has dropped by about 79%.
With this new valuation, TMTG is now also worth more than The New York Times, valued at around $9.2 billion.
However, in TMTG’s latest financial filing with the U.S. Securities and Exchange Commission, it was revealed that the company generated only $1.6 million in revenue in the first half of 2024, while it reported a significant loss of $344 million.
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