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Like X (formerly Twitter), but dedicated to Donald Trump and his political base.

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• Truth Social Platform: A social media application and website offering users a platform to create and share content, follow individuals, and engage in online discussions.

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Trump Media & Technology Corp. (DJT), through its primary product Truth Social, primarily serves **individuals** rather than other companies. Its core offering is a social media platform designed for user engagement, content sharing, and communication.

The major categories of individual customers that Truth Social serves include:

• Supporters of Donald Trump and the "America First" movement: This segment is directly drawn to the platform due to its association with former President Donald Trump and its positioning as a dedicated space for his political base and those aligned with his conservative nationalist ideology.
• Conservative-leaning individuals and those seeking ideologically aligned content: Many users are drawn to Truth Social as an alternative to mainstream social media, seeking an environment where they believe their conservative viewpoints are better represented and less subject to perceived censorship or bias.
• Advocates for "free speech" platforms: This category includes users who prioritize social media platforms with minimal content moderation, believing it is essential for uncensored discourse and an open exchange of ideas, often viewing Truth Social as a haven from what they perceive as restrictive policies on other major platforms.

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Devin Nunes, Chief Executive Officer, President & Chairman

Devin Nunes joined Trump Media & Technology Group as CEO in January 2022 and was promoted to Chairman on April 1, 2024. Prior to his role at TMTG, Nunes had a distinguished career in public service and politics, serving as a U.S. Representative for California's 21st and 22nd congressional districts from 2003 to 2022. He also chaired the House Intelligence Committee from 2015 to 2019. At 23, he was elected as one of California's youngest community college trustees. Before his political career, he worked in agriculture. There is no public information indicating he founded or managed other private companies, sold companies to an acquirer, or has a pattern of managing companies backed by private equity firms.

Phillip Juhan, Chief Financial Officer & Treasurer

Phillip Juhan became the Chief Financial Officer of Trump Media & Technology Group on July 7, 2021. His background includes extensive experience in financial leadership roles, investment banking, and corporate financial strategies. He served as the Chief Financial Officer of Town Sports International Holdings, Inc. from 2020 to 2021. Earlier in his career, Juhan was a Principal at Masters Capital Management LLC, an SEC-registered hedge fund manager, from 2006 to 2007. He also worked as an Associate Analyst at Prudential Securities and an Equity Research Analyst at BMO Capital Markets Corp. (Broker). Juhan earned a Bachelor of Science in Management with a concentration in Finance from the Georgia Institute of Technology. While his experience includes roles at a hedge fund and in investment banking, there is no explicit public record detailing a pattern of him managing companies specifically backed by private equity firms or selling companies he was previously involved with to an acquirer.

Vladimir Novachki, Chief Technology Officer

Vladimir Novachki serves as the Chief Technology Officer and Chief Information Officer at Trump Media & Technology Group, a role he has held since June 2021. Before joining TMTG, Novachki held various positions at Cosmic Development from March 2012 to January 2023, including Chief Technology Officer, Head of Software Development, and Web Developer. He also worked as a freelance web developer and as a writer and researcher for a TV series. He holds a Master's degree in Software Engineering and a Bachelor's degree in Computer Science and Engineering.

Scott Glabe, General Counsel & Secretary

Scott Glabe has been the General Counsel of Trump Media & Technology Group since April 2022. He previously held positions in the U.S. government, serving in Donald Trump's first administration as an associate counsel in the White House and later as acting Under Secretary for Strategy, Policy, and Plans at the Department of Homeland Security. Glabe also worked as the deputy staff director of the House Intelligence Committee under Devin Nunes's chairmanship. In February 2025, he was appointed to the President's Intelligence Advisory Board.

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The key risks to Trump Media & Technology Group (DJT) are primarily centered around its financial viability, its heavy reliance on Donald Trump, and the intense competition within the social media landscape.

1. Financial Instability and Lack of Profitability: Trump Media & Technology Group has consistently reported significant net losses and struggles with operational cost management. The company generated minimal revenue in recent years, with a substantial portion coming from a single advertiser in 2024. Its accounting firm expressed "substantial doubt" about its ability to continue as a going concern as of November 2023. Furthermore, the company has disclosed "material weaknesses" in its internal controls over financial reporting, indicating a risk of errors in its financial statements due to a lack of formal accounting processes and insufficient experienced personnel.
2. Dependence on Donald Trump and Political Influence: The business model and market valuation of Trump Media are heavily reliant on the brand and political influence of its founder, Donald Trump. As a controlling stockholder, Donald Trump's interests may not always align with those of other shareholders, and his political fortunes and controversies directly impact the company's stock performance and user engagement. The platform's appeal primarily to a niche, conservative audience limits its broader growth prospects.
3. Intense Competition and Limited Market Traction: Trump Media operates in a highly competitive digital media and social networking sector, competing against established giants like Facebook, X (formerly Twitter), Instagram, YouTube, and TikTok, which possess vast resources and extensive user bases. Truth Social, the company's flagship platform, has struggled to gain significant user traction, achieve substantial audience growth, and maintain high engagement levels compared to its rivals. The platform has also faced challenges with scalability and content moderation, which historically hindered its availability on major app stores.

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Addressable Market Sizes:

• Truth Social (Social Media Platform):

  The addressable market for Truth Social is the broader social networking and social media market. In the U.S., the social networking market was valued at USD 138.9 billion in 2024 and is projected to reach USD 304.5 billion by 2032. Globally, the social networking market generated USD 95.8 billion in 2025 and is forecast to grow to USD 221.4 billion by 2030. Another estimate places the global social media market size at USD 218.03 billion in 2023, with an anticipation to exceed USD 815.78 billion by 2033. The global social media digital media market was valued at approximately USD 238.56 billion in 2024 and is expected to reach approximately USD 499.04 billion by 2030. North America was the largest revenue-generating region in the social media market in 2024. As of January 2025, 246 million Americans actively use social media, representing 72.5% of the total U.S. population. U.S. social media advertising spending is projected to reach USD 276.7 billion in 2025.

• Truth+ (TV Streaming Platform):

  The search results do not contain specific addressable market sizes for Truth+ (TV streaming platform). Therefore, the market size for this product cannot be identified with the provided information. null

• Truth.Fi (Financial Services and FinTech Brand):

  The search results do not contain specific addressable market sizes for Truth.Fi (financial services and FinTech brand). Therefore, the market size for this product cannot be identified with the provided information. null

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Trump Media & Technology Group (DJT) is strategically positioning itself to drive future revenue growth over the next two to three years through several key initiatives:

1. Expansion and Monetization of Truth Social and Truth+ Platforms: The company aims to increase revenue through the growth of its social media platform, Truth Social, by attracting and retaining users, which is directly tied to higher advertising revenue. Additionally, the recently launched Truth+ TV streaming platform, with its proprietary content delivery network and applications, is expected to generate revenue through advertising and subscriptions. Enhancements in user experience, security features, and content moderation on the Truth Social platform are considered crucial for maintaining user interest and competitiveness.
2. Diversification into FinTech Services with Truth.Fi: DJT has expanded its portfolio by launching Truth.Fi, a FinTech brand offering financial products. This includes partnerships with entities like Crypto.com and Yorkville America for ETFs, with plans for a full launch of Truth.Fi financial products. This segment represents a new avenue for revenue generation.
3. Leveraging Digital Asset Strategy and Prediction Markets: Trump Media is generating income from its unique Bitcoin strategy, including realized income from option premiums associated with Bitcoin-related securities. The company has significantly increased its financial assets, with substantial holdings in digital assets, and is actively expanding into prediction markets, such as Truth Predict, which could provide additional revenue streams.
4. Pursuit of Mergers and Acquisitions (M&A) and International Expansion: Trump Media is strategically poised to engage in mergers and acquisitions to enhance its portfolio and drive future growth by acquiring new assets and/or forming partnerships. Furthermore, the company has expressed ambitions to extend its reach into international markets, which presents an opportunity to expand its user base and diversify revenue sources globally.

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Share Repurchases

• Trump Media & Technology Group authorized a stock buyback of up to $400 million in common stock and warrants in June 2025.
• As of November 5, 2025, the company had repurchased 355,208 shares for $6.4 million.
• Repurchased shares are to be retired.

Share Issuance

• In July 2024, Trump Media & Technology Group raised $105 million through the cash exercise of its warrants.
• As of November 5, 2025, the company reported $2.30 billion provided by financing activities year-to-date, including $1.40 billion from a PIPE (Private Investment in Public Equity).

Inbound Investments

• Trump Media & Technology Group went public on March 26, 2024, after merging with Digital World Acquisition Corp. (DWAC), a special-purpose acquisition company (SPAC).
• The company raised $1.40 billion from a PIPE (Private Investment in Public Equity) as part of its financing activities.

Outbound Investments

• Year-to-date as of November 5, 2025, Trump Media & Technology Group used $1.97 billion in investing activities, with $1.44 billion primarily allocated to the purchase of digital assets as part of its Bitcoin treasury strategy.

Capital Expenditures

• In the last 12 months, Trump Media & Technology Group's capital expenditures were -$572,300.
• The company is operating a custom-built content delivery network (CDN) and is in the process of bringing additional data centers into operation, implying ongoing investment in infrastructure.