Donald Trump reported little profit from Truth Social, up to $1.5m from NFTs

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Former US president Donald Trump said he does not make 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 on Friday.

Key points: Donald Trump launched Truth Social in 2022, a year after being banned from several other platforms, documents revealed that the former president only earned a few hundred dollars. The disclosure provides limited information because it only reports income on a broad scale

Mr Trump owns about 90 per cent of his social media company, Trump Media & Technology Group, but says he earns less than $300 from it.

He also reportedly earned between $150,000 and $1.5 million for a series of digital trading cards (NFTs) he released in December depicting 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 USCapitol.

Donald Trump has been charged with falsifying business records. (Reuters:Jonathan Ernst)

Although Mr Trump has been allowed to return to social media networks, he has relied on Truth Social as his main means of sharing messages with his supporters, especially as he launches his 2024 presidential campaign.

The disclosure provides limited information, as it only reports income in a broad range.

Because of this, it’s hard to tell how many of Trump’s biggest assets and businesses have been around since he left office, since the disclosures he was required to file when he was president included specific income figures instead of scopes.

In the latest disclosure, for example, Trump reported that his Washington, DC, golf club took in more than $7.4million. In 2020, he put a finer point on it: $21.1 million.

CIC Digital LLC, the company that owns digital trading card NFTs or non-fungible tokens is worth between $745,000 and $1.4 million, according to the report.

Trump also reported that he made more than $7.4million in speaking fees.

All federal candidates are required to file disclosures after announcing their candidacies. Trump, a Republican, has been granted an extension and faces fines if he delays.

AP

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