On Monday, Donald Trump took to his social media platform, Truth Social, to share a link to an interview featuring Indian Prime Minister Narendra Modi. The interview, conducted by popular podcaster Lex Fridman, touched on various significant topics, including Modi’s life journey, the contentious Gujarat riots of 2002, and the evolving relationship between India and China. This move by Trump reflects his ongoing engagement with global leaders, aiming to maintain a presence in political discourse through his social media outlet.
Truth Social, which Trump Media & Technology Group (TMTG) owns, is marked by a user experience that parallels that of X, formerly known as Twitter. Users can post ‘truths’ or ‘retruths,’ akin to tweets and retweets, alongside private messaging functionality. Advertisements on the platform are termed ‘sponsored truths.’
Trump’s stake in TMTG is approximately 57%, following its public debut in March 2024. However, the company has faced substantial financial hurdles, reporting losses that soared to $400 million (£308 million) in 2024, with only $3.6 million in revenue. TMTG’s market valuation stands at $4.45 billion, a considerable amount clouded by its financial hardships.
In terms of user engagement, Trump’s presence on Truth Social lags significantly behind his reach on X, with only 9.28 million followers as opposed to 87 million followers on X. Furthermore, the traffic on Truth Social is notably small compared to its competitors; as indicated by Bloomberg data, Truth Social’s user count is approximately 400 times fewer than that of X.
The financial struggles of TMTG are compounded by ongoing legal disputes involving stakeholders like the Kuwaiti-based investment firm ARC Global Investments and former contestants from Trump’s reality television show, The Apprentice. These factors underline the challenges facing Trump’s media venture, even as he attempts to engage users with content like Modi’s interview, seeking to maintain a foothold in the dynamic world of social media politics.