TRUMP’S SOCIAL MEDIA NETWORK VALUED UP TO $25 MILLION, DISCLOSURE FORM SHOWS

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Former President Trump has claimed that his social media network, which he owns about 90% of through Trump Media & Technology Group, is worth between $5 million to $25 million, according to his personal financial disclosure form filed on Friday. However, he stated that he has not made much money from it and made less than $201. Trump also reported earning between $100,000 to $1 million from a series of digital trading cards he released in December 2022 featuring cartoon versions of himself as an astronaut, cowboy, and superhero.

The report, which was filed with the Federal Election Commission, provides a first look into Trump’s finances since he left the White House and launched several new business ventures. In 2022, he launched the platform Truth Social, a year after being banned from Twitter, Facebook, and YouTube following the January 6, 2021, insurrection at the U.S. Capitol. Although he has been allowed back on those social media networks, he has been relying on Truth Social as a primary method of sharing messages with his supporters, especially as he has launched his 2024 presidential campaign.

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The disclosure provides limited information because it only reports income in broad ranges. This makes it difficult to determine how many of Trump’s businesses are faring since his departure from office since the disclosures he was required to file when he was president included specific income figures instead of ranges. For example, Trump reported that his Washington, D.C., golf club took in over $5 million, while in 2020, he reported $14.2 million. Additionally, the report shows that CIC Digital LLC, the company that owned the digital trading card NFTs (non-fungible tokens), was valued at $500,000 to $1 million. Trump also reported earning over $5 million in speaking fees. As a Republican candidate, Trump had been granted an extension to file the disclosures, and he risked a fine if he failed to do so.

Source: Donald J. Trump Disclosure Report

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