Multi-billion loss for Trump's media company

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

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

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.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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