Trump Media sees its revenue triple after offering faster access to president’s posts for a fee

Résumé détaillé

Trump, who made about $2.2 billion last year, has been accused of profiting from the presidency

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Trump Media & Technology Group has seen its revenue triple from the same time last year after offering faster access to President Donald Trump’s posts for a fee.

The company, which owns Trump’s Truth Social platform, generated $3 million in its third quarter that ended on September 30. About $1.8 million of that revenue was from subscriptions to the Truth+ streaming platform and Truth API.

Truth API was rolled out over the summer to allow news organizations and Wall Street firms “real-time” access to posts from the “high-ranking Truth Social accounts,” according to a July press release announcing the new subscription.

Bloomberg, Susquehanna International Group and Jump Trading bought Truth API subscriptions for between $60,000 and $100,000 a month, Reuters reported in October.

Democratic Senators Elizabeth Warren of Massachusetts and Adam Schiff of California have sounded the alarm over Truth API, calling it an abuse of Trump’s office for his personal gain.

Warren and Schiff sent a letter to Paul Atkins, chair of the Securities and Exchange Commission, in July, urging his agency to investigate Trump Media's moveand determine whether it violates federal securities laws.

“Trump Media’s plan to disseminate market-moving information through the President’s own company, while charging insiders for access ahead of the public for the benefit of his company—and to the detriment of the investing public—represents a shocking abuse of the office of the President and the trust of the American public for his personal gain,” the senators wrote in a statement at the time.

Trump, who raked in at least $2.2 billion last year from his various businesses, has dismissed concerns about him profiting off the presidency.

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