Trump created TMTG after he was banned from Twitter and Facebook following the Jan. 6, 2021, Capitol riot. He owns about 57% of the company but has no role in running it.

Based in Sarasota, Florida, TMTG has been losing money and struggling to raise revenue. It lost more than $16 million in the quarter ending in June while generating only $837,000 in revenue, according to regulatory filings.