Multi-billion loss for Trump's media company

President Donald Trump's media company, Trump Media & Technology Group, reports a loss of over SEK 4.2 billion for the full year 2024.

» Published:

Multi-billion loss for Trump's media company
Photo: Alex Brandon/AP/TT

Share this article

It can be compared to a loss of 620 million kronor the year before, reports CNBC.

According to the company, the huge loss is partly due to legal fees in connection with a process with the American financial supervisory authority during the Biden era. A profit distribution is also said to have contributed to the loss.

The turnover stopped at a modest 38.5 million kronor.

The share was listed on the stock exchange a year ago in connection with a merger with Digital World Acquisition. During 2024, the share has soared following Trump's victory in the presidential election.

In connection with the annual report, the share plummeted on the New York stock exchange by over ten percent.

Trump's company operates, among other things, the social platform Truth Social.

Tags

Author

TTT
By TTEnglish edition by Sweden Herald, adapted for local and international readers

More news

China Investigates Nvidia for Competition Law Violations

China Investigates Nvidia for Competition Law Violations

USA and China Near Resolution on TikTok Deal

USA and China Near Resolution on TikTok Deal

Black Soldier Fly Oil and Protein Developed for Animal Feed

Black Soldier Fly Oil and Protein Developed for Animal Feed

Basmati Rice Dispute Stalls EU-India Trade Agreement

Basmati Rice Dispute Stalls EU-India Trade Agreement

Stock Market and Krona Rise as Week Begins

Stock Market and Krona Rise as Week Begins

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Sweden Construction Costs Rise 0.4% in August Amid Higher Electricity Prices

Swedes Report Decreased Satisfaction with Banks This Year

Swedes Report Decreased Satisfaction with Banks This Year

Fashion Trade Sales Rise for Third Consecutive Month

Fashion Trade Sales Rise for Third Consecutive Month

Powell's Rate Signal Influences Swedish Households Too

Powell's Rate Signal Influences Swedish Households Too

Asian Markets Rise Despite Weak China Data

Asian Markets Rise Despite Weak China Data

ANZ Bank Faces Record Fines for Bond Deal Misconduct

ANZ Bank Faces Record Fines for Bond Deal Misconduct

Trump Welcomes Foreign Investment and Workforce in the USA

Trump Welcomes Foreign Investment and Workforce in the USA

Government Boosts Support for Sweden's Regional Airports

Government Boosts Support for Sweden's Regional Airports

Klarna CEO: Embracing "Swedishness" as a Key Asset

Klarna CEO: Embracing "Swedishness" as a Key Asset

Handelsbanken Swish Payment Disruption Resolved

Handelsbanken Swish Payment Disruption Resolved

Government Proposes Increased Export Credit Guarantees for Swedish Companies

Government Proposes Increased Export Credit Guarantees for Swedish Companies

AstraZeneca Halts UK Research Facility Expansion Plans

AstraZeneca Halts UK Research Facility Expansion Plans

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Princess Madeleine's Skincare Brand Launch Draws Lukewarm Interest

Länsförsäkringar Swish Payment Issue Resolved

Länsförsäkringar Swish Payment Issue Resolved

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending

Blind Box Trend Raises Concerns Over Consumer Behavior and Spending