Donald Trump reports little income from Truth Social, up to $1.5m from NFTs
Former US president Donald Trump says he’s not making much money from his social media network but estimates it is worth between $7 million and $37 million, according to his personal financial disclosure form filed Friday.
Key points:
- Donald Trump launched Truth Social in 2022, one year after being banned from several other platforms
- Documents reveal the former president has only made a few hundred dollars profit
- The disclosure provides limited information because it only reports income in broad ranges
Mr Trump owns about 90 per cent of his social media company, Trump Media & Technology Group, but said he made less than $300 from it.
He also reported that he made between $150,000 and $1.5 million for a series of digital trading cards (NFTs) he released in December that portrayed a photoshopped Trump in a series of cartoon-like images, including an astronaut, a cowboy and a superhero.
A report filed with the Federal Election Commission is the first glimpse into Trump’s finances since he left the White House and launched several new business ventures.
The real estate mogul and reality TV star launched the platform Truth Social in 2022, a year after he was banned from Twitter, Facebook and YouTube, following the January 6, 2021, insurrection at the US Capitol.
Although Mr Trump has since been allowed back on those social media networks, he has relied on Truth Social as a primary method of sharing messages with his supporters, especially as he has launched his 2024 presidential campaign.
The disclosure provides limited information, because it only reports income in broad ranges.
That makes it difficult to tell how many of Trump’s biggest properties and businesses are faring since his departure from office, because the disclosures he was required to file when he was president included specific income figures instead of ranges.
In the latest disclosure, for instance, Trump reports his Washington, DC, golf club took in more than $7.4 million. In 2020, he had put a finer point on it: $21.1 million.
CIC Digital LLC, the company that owned the digital trading card NFTs — or non-fungible tokens — was valued at somewhere between $745,000 and $1.4 million, according to the report.
Trump also reported he made more than $7.4 million in speaking fees.
All federal candidates are required to file the disclosures after announcing their candidatures. Trump, a Republican, had been granted an extension and risked a fine if he delayed any further.
AP
