SEATTLE, WA, USA - APR 3, 2025: A man holds smartphone with Truth Social app on Google Play and the face of US president Donald Trump in the background. The app is owned by TMTG. (Photo credit: Charles-McClintock Wilson / Shutterstock)
Trump Media more than tripled its revenue, filings show, as it began selling Wall Street trading firms a head start on President Donald Trump’s own social media posts.
The president’s company, Trump Media & Technology Group, reported Monday that it took in about $3 million from July through September, up 205% from a year earlier.
Most of that gain came from a $1.3 million rise in subscription sales, which the company’s quarterly report to the Securities and Exchange Commission credits to its Truth+ streaming service and Truth API, a product launched Aug. 1.
Truth API gives paying customers posts from Truth Social’s top accounts, including Trump’s, milliseconds before they reach everyone else, Fortune reported. By mid-August, the company said, more than 10 customers had signed up at $60,000 to $100,000 a month.
At those prices, 10 customers paying for August and September would bring in $1.2 million to $2 million, enough to account for the $1.3 million subscription jump.
Bloomberg and two high-speed trading firms, Susquehanna International Group and Jump Trading, are among the buyers, Reuters reported last month, citing people with direct knowledge. All three declined to comment.
Trump’s posts can move markets. Oil futures sank in April after he announced a ceasefire in the Iran war on Truth Social, according to the report.
Trump Media’s revenue grew even as Truth Social’s traffic fell. Visits dropped from a year earlier by 36% in July, 10% in August and 25% in September, according to TheRighting, which tracks right-wing news sites using Similarweb data.
October brought 11.8 million visits, the fewest since TheRighting began tracking the site in August 2025.
The growth tracked a small group of paying firms, not the size of the audience.
Ad sales rose too, by $523,300. About a third of that came from Freedom 250, the group behind events for the nation’s 250th birthday. The quarterly report says the National Park Foundation created and runs the group.
“The majority of Freedom 250’s operating funds come from federal funds appropriated by Congress specifically for the 250th anniversary commemorations,” the foundation’s CEO, Jeff Reinbold, told the House Natural Resources Committee in February, according to The New Republic.
Trump Media board member Meredith O’Rourke also sits on the foundation’s board, the company disclosed.
The money traders pay for early looks at Trump’s posts benefits the president himself. His family trust owns 41% of Trump Media, and he is its only beneficiary, Reuters reported.
“This appears to be an outrageous abuse of the President’s office for his personal benefit that undermines everyday investors and the integrity of our markets, while enriching Wall Street and other wealthy insiders,” Sens. Elizabeth Warren (D-MA) and Adam Schiff (D-CA) wrote to the SEC in July.
“Congressional Democrats continue to mischaracterise Truth API either out of ideological opposition to free markets or a failure to grasp the distinction between public and nonpublic information,” a Trump Media spokesperson said, according to Reuters.
But the company’s own officials put the feed’s head start at 50 milliseconds. Subscribers are paying for that moment before the posts are public.
Two press groups, Intercept Media and the Freedom of the Press Foundation, sued Trump in August to stop the White House from posting official announcements only on Truth Social while the paid feed exists. Their lawsuit calls the service “profoundly corrupt,” Reuters reported.
White House spokesman Davis Ingle said neither Trump nor his family is directly involved in the company’s investment decisions. He did not address whether the president was improperly using his office.
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