In recent days, President Trump has been using his Truth Social account to share his views on a range of issues including military strikes in Somalia, tariffs, relations with Russia, and more. One recent post attacked Ukraine’s leader over the war in Ukraine, showing the president’s continued use of social media as a vehicle for his opinions.
However, the main difference now is that Mr. Trump is the largest shareholder in Trump Media & Technology Group, the company that owns Truth Social. The president stands to directly benefit from increased traffic to the platform. This conflict of interest is seen in the company’s recent lawsuit against a Brazilian Supreme Court justice overseeing investigations of a former Brazilian president who Trump considers a friend.
Trump Media also plans to expand into financial services, potentially leading to more conflicts of interest. Mr. Trump’s connections to the company and his continued use of social media to communicate official messages have raised concerns among ethics experts.
With the Biden administration attempting to close the Consumer Financial Protection Bureau and other regulatory changes, the future of oversight in the financial services industry is unclear. Meanwhile, Trump Media continues to see losses but also has substantial cash reserves, raising questions about the president’s financial interests. Despite transferring shares to a trust, experts warn that Mr. Trump’s personal interests are still closely tied to his actions as president.
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