Palm Beach, Florida - Ex-President Donald Trump's Truth Social platform has reported a $35-million operating loss since its February 2022 launch.

The bleak financial report was documented in a Securities and Exchange Commission (SEC) filing from Digital World Acquisition Corp., which is planning to merge with Trump’s social media venture.

Truth Social was meant to compete with Twitter, after Trump was banned from the latter social media platform for spreading inflammatory disinformation preceding the storming of the US Capitol building on January 6, 2021.

His account was reinstated when Elon Musk purchased Twitter in October 2022 and rebranded it as X. However, Trump has stuck with Truth Social as his platform of choice. X is believed to have lost $24 billion in value under Musk's leadership.

Donald Trump Team Trump assails Biden decision on missiles for Ukraine: "Everything has changed"

Trump announced the formation of Truth Social in October 2021. It launched to a choppy start four months later with new users encountering error notices. The platform has roughly 2 million active monthly users and is now looking for more financing, which might explain its furious reaction to reporting that focused on its net losses.

Trump himself posts several times a day, often railing against his perceived enemies, which has gotten him in trouble with judges presiding over some of his civil and criminal trials.