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☆ This is what all of your wealthy adult friends did this summer
▼ + stars: | 2024-09-15 | by ( Brittany Chang | ) www.businessinsider.com time to read: +1 min

Adult-only summer camps have been exploding in popularity. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementForget Euro summer — travelers want to return to summer camp. The nostalgic art of sharing bunks and canoeing with new friends is no longer reserved for kids at summer sleepaway camps. Lately, an increasing number of grown-ups have begun flocking to adult-only summer camps, some for as steep as $1,200 a day.

Persons: Social's, — Organizations: Service

☆ I Visited a $600 Adult Summer Camp With a 60,000-Person Waitlist
▼ + stars: | 2024-09-10 | by ( Brittany Chang | ) www.businessinsider.com time to read: 1 min

The art of sharing bunks and meeting new friends over arts and crafts is no longer just for kids. Camp Social's three-day camp in late August received about 480 guests. Brittany Chang/Business InsiderA growing number of adults have started seeking out these nostalgic experiences. A spokesperson for Connecticut-based Club Getaway, which offers both family and adult-only camp programs, told BI that bookings for its 2024 season increased 17% compared to the previous year. Similarly, Philippa Girling, the CEO and cofounder of France-based woman-only summer camp Camp Chateau, told BI that the company now has a more than 13,000-person waitlist for its 2025 dates.

Persons: Camp Social's, Brittany Chang, Philippa Girling Organizations: France Locations: Connecticut

☆ Trump Media tumbles for a 2nd day after the former president returns to X and interviews with Elon Musk
▼ + stars: | 2024-08-13 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Shares of Trump Media dropped almost 4% Tuesday following the former president's interview with Elon Musk. Truth Social's latest earnings show the social media company is still struggling to turn a profit. AdvertisementShares of Donald Trump's media company tumbled for a second day on Tuesday after the former president returned to his firm's top rival after a three-year hiatus. In earnings released last week, Trump Media posted a $16 million loss and a decline in revenue in the most recent quarter. Trump's interview with Musk, streamed on X, lasted over two hours and attracted as many as 1.3 million listeners.

Persons: Elon Musk, —, Donald Trump's, Trump, Twitter —, Musk, Kamala Harris Organizations: Trump Media, Elon, Trump, Service, Truth, Capitol, Twitter, Republican, National Association of Black Journalists Conference Locations: Georgia, Chicago, Palm Beach , Florida

☆ How Truth Social could make former President Trump billions before turning a profit
▼ + stars: | 2024-07-24 | by ( Carlos Waters | In Carloswaters | ) www.cnbc.com time to read: +2 min

Truth Social is a social media platform whose majority owner is former President Donald Trump. The public has limited access to Truth Social's usage data, which drives advertising sales, a key metric for success at Truth Social. Truth Social's parent company, Trump Media & Technology Group, is the product of a blank-check merger with a special purpose acquisition company, or SPAC, which was completed in March 2024. Securities and Exchange Commission filings for Trump Media & Technology Group mention a variety of risks, including that it could potentially fail to live up to its promise to generate users and advertisers. Watch the video above to learn more about Truth Social and its parent company, Trump Media & Technology Group.

Persons: Donald Trump, Michael Klausner Organizations: Truth, CNBC, Trump Media & Technology Group, Trump, TMTG's, Acquisition Corporation, Investors, Stanford Law School, Securities, Exchange, Trump Media & Technology, Social

☆ Truth Social struggles to grow its U.S. user base, new data on Trump Media app shows
▼ + stars: | 2024-05-24 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +6 min

But the new analyses could be warning signs for Trump Media, whose business depends in large part on growing its user base. Truth Social users were down 19.7% year over year, according to Similarweb. Truth Social users on average check the site fewer than two days a week — falling behind apps like Facebook, X, TikTok, Reddit and Pinterest. Truth Social users also clock fewer minutes of engagement on the platform that do the users of other social media networks. "Compared to other social media platforms, Truth Social users are accessing the app much less frequently and are spending much less time on it per session," the firm's CEO, Dr. Paul Carter, told CNBC in an email.

Persons: Dado Ruvic, Donald Trump's, —, Similarweb, Trump, Similarweb's, David Carr, Carr, Michael M, Paul Carter, Carter, Donald Trump, Jim Watson Organizations: Reuters, Social, Trump Media, White, Trump, CNBC, Securities and Exchange Commission, SEC, Nasdaq, Trump Media & Technology Group, Santiago, Getty, Truth, Facebook, Republican, AFP Locations: U.S, Similarweb, New York City, South Bronx

☆ This chart shows just how absurd Trump Media's valuation is
▼ + stars: | 2024-05-08 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

It's well known that Trump Media stock trades at a premium valuation, but one chart shows just how absurd it is. AdvertisementA lot has been written about Trump Media and Technology Group's premium valuation, but one chart really helps put it into perspective. The social media company, founded by former President Donald Trump, has a market valuation of nearly $7 billion. Another way to value the profitless Trump Media is to compare its current market valuation to its monthly active user base. Since Trump Media's recent stock surge,that valuation has surged to $1,309 per Truth Social user, and at its peak in March, each Truth Social user was worth $1,794.

Persons: Donald Trump's, —, Donald Trump, Michael Cembalest, Alex W, Cembalest, Steve Sosnick, MAGA, Sosnick Organizations: Trump Media, Service, Technology, Truth, MSNBC, JPMorgan, Trump, Interactive Brokers Locations: 1,590x

☆ How much influencers charge for sponsored posts, Gen Z views on AI influencers, and other key takeaways from new influencer-marketing data
▼ + stars: | 2024-05-07 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +5 min

At least, that's what a new report by social-media-management-and-analytics company Sprout Social found. The April report from Sprout Social also broke down the average amount influencers charge for sponsored posts — with most charging at least $250 — consumer and creator views of AI influencers, and more. Sprout Social breaks down how much the influencers surveyed in February charged for sponsored content. Many of the influencers surveyed said creating long-form videos takes more time and doesn't usually pay off in terms of engagement. Meanwhile, many of the influencers surveyed (49%) said they were afraid virtual influencers would take paid opportunities away from humans .

Persons: hasn't, they'd, Gen, Scott Morris, TikTok, Gen Zers, Sprout, —, influencers, Zers, Gen Z, Jessica Morrobel Organizations: Social, Sprout Social, Business, Sprout, Facebook

☆ Trump Media shares fall more than 10%, company says Truth Social to launch TV streaming
▼ + stars: | 2024-04-16 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Trump Media shares fell by more than 10% on Tuesday morning after the company announced its Truth Social platform is moving to launch a live TV streaming platform. Earlier Tuesday, Trump Media in a press release said it "has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network." The company said it will roll out streaming content in three phases, the first of which will introduce Truth Social's content delivery network for streaming live TV to the app for Android, iOS and web. Phase two will release stand-alone Truth Social streaming apps for phones, tablets and other devices, while phase three will release such apps for home television, Trump Media said. "With our streaming content, we aim to provide a permanent home for high-quality news and entertainment that face discrimination by other channels and content delivery service," Nunes said.

Persons: Donald Trump, Devin Nunes, Nunes, they'll Organizations: Trump Media, Trump, Corp Locations: New York

☆ An accounting firm hired to vet Truth Social's financials quit after less than a year because it no longer wanted to be linked to Trump: FT
▼ + stars: | 2024-04-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewThe accounting firm that was first hired to audit former President Donald Trump's social media company quit just months after it was appointed, the Financial Times reported on Monday. WithumSmith+Brown was appointed to vet Trump Media & Technology Group's financials soon after it was founded in early 2021. In January 2022, Trump Media instead turned to a smaller accounting firm to conduct the audit, BF Borgers, which has less than stellar record with regulators. The company's shares initially skyrocketed when it went public in March, only for prices to plunge just a week later. That isn't great for Trump, whose net worth is tied to his holdings in Trump Media.

Persons: —, Donald Trump's, WithumSmith, Brown, Trump Media & Technology Group's financials, Trump, Borgers, BF Borgers, Forbes, Jean Carroll, Stormy Daniels Organizations: Service, Financial Times, Trump Media & Technology, Business, Trump Media, Public Company, BF Borgers, Bloomberg, American Institute of Certified Public Accountants, Trump, Trump Media's, Prosecutors, WithumSmith, Trump Media & Technology Group, Business Insider Locations: freefall, Manhattan

☆ An accounting firm hired to vet Truth Social's financials quit after less than a year because they no longer wanted to be linked to Trump: FT
▼ + stars: | 2024-04-16 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

☆ Donald Trump crashes out of the Bloomberg rich list due to his meme stock nosediving
▼ + stars: | 2024-04-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

TMTG stock has plunged 53% from its intraday peak two weeks ago, slashing Trump's net worth. AdvertisementDonald Trump has crashed out of the ranks of the world's 500 wealthiest people after the value of his meme stock nosedived. The former president has fallen off the Bloomberg Billionaires Index as his net worth has dropped below the $5.8 billion required to make the cut. AdvertisementTMTG shares hit an intraday high of $79 on March 26, valuing Trump's stake at close to $6.3 billion. That's still more than 1,200 times the $4.1 million of revenue it earned last year, which fueled a net loss of $58 million for Truth Social's parent company.

Persons: Donald Trump, —, Forbes, Trump, George Soros, Mark Cuban, Giorgio Armani, Reed Hastings, Bernie Marcus, Ralph Lauren, TMTG Organizations: Service, Bloomberg, Trump Media & Technology, TMTG, Paramount, Etsy, Hasbro, American Airlines Locations: Monday's

☆ Trump defends Truth Social as media company's skeptics grow, stock price whipsaws
▼ + stars: | 2024-04-04 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +4 min

Donald Trump on Thursday defended his social media platform Truth Social as a growing chorus of critics — and short sellers — view its parent company as a meme stock with a vastly overinflated share price. Trump Media has become by far the most expensive stock in the U.S. to sell short, according to data firm S3 Partners. Trump Media said it might eventually change its mind and report that data, but it also "may never collect, monitor, or report any or certain key operating metrics." Trump said his roughly 7 million followers on Truth Social is "very good for a startup, and growing fast." Truth Social saw roughly 5 million visits in February, according to an estimate by research firm Similarweb reported by the Associated Press.

Persons: Donald Trump, —, doesn't, Trump, Devin Nunes, DJT, Elon Musk Organizations: Trump, Radical Left Democrats, Trump Media & Technology Group, Trump Media, Partners, Nasdaq, Capitol, Associated Press, Facebook Locations: U.S

☆ Barry Diller says Trump Media is 'a scam' and people buying shares are 'dopes'
▼ + stars: | 2024-04-04 | by ( Camilo Fonseca | ) www.businessinsider.com time to read: +1 min

Barry Diller thinks that shareholders of Truth Social's owner have been scammed. The IAC chairman pointed to Trump Media's low revenue and said he doubts Truth Social will grow. Shares for Trump Media and Technology Group initially surged after going public, but have since tumbled. AdvertisementBarry Diller has a message for Trump Media shareholders: "I think they're dopes." But that moment in the sun was short-lived, and shares of the former president's social media platform have since come crashing down to earth.

Persons: Barry Diller, — Organizations: Truth, IAC, Trump, Trump Media, Technology Group, Service, Business

☆ Trump Media investors accused of insider trading plead guilty to fraud
▼ + stars: | 2024-04-03 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Two brothers were accused of insider trading ahead of Trump Media's public offering. Michael and Gerald Shvartsman each pleaded guilty to one count of securities fraud. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTwo brothers accused of participating in an insider trading scheme ahead of the public offering of former President Donald Trump's Truth Social media platform pleaded guilty Wednesday to one count of securities fraud apiece. Trump Media is Truth Social's parent company.

Persons: Michael, Gerald Shvartsman, —, Donald Trump's, Florida's Michael Organizations: Trump, Service, Trump Media & Technology Group, Trump Media, Business

☆ Meme-stock mania comes roaring back to leave Donald Trump's Truth Social owner TMTG worth more than Etsy or Hasbro
▼ + stars: | 2024-03-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Meme-stock fans have boosted Trump Media & Technology Group stock by nearly 80% this week. Truth Social's parent company is now valued at over $13 billion on a fully diluted basis. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMeme-stock mania has boosted the value of Trump Media & Technology Group beyond Etsy, Hasbro, and Paramount Global — three S&P 500 companies worth nearly $8 billion each. Truth Social's parent company completed a SPAC merger on Monday, and began trading under the ticker DJT on Tuesday.

Persons: Ralph Lauren, Campbell Soup, — Organizations: Trump Media & Technology Group, American Airlines, Service, Trump Media & Technology, Hasbro, Paramount Global, Business

☆ Trump's initials are publicly tradeable once again — this time during a campaign
▼ + stars: | 2024-03-26 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +3 min

Read previewFormer President Donald Trump is a publicly tradeable asset once again. Trump's initials are one of the new stock symbols for Truth Social's parent company. Symbols can range from the fairly obvious APPL (Apple) to the playful, motorcycle maker Harley-Davidson uses HOG on the New York Stock Exchange. Trump's political fortunes will be closely tied to Truth Social's parent, Trump Media & Technology Group. By 2004, the company was delisted from the New York Stock Exchange after filing for Chapter 11 bankruptcy protection.

Persons: —, Donald Trump, Davidson, Trump, It's, Jeffrey Yass, Donald Trump Jr Organizations: Service, Nasdaq, New York Stock Exchange, Business, Trump Media & Technology Group, Trump Media, Susquehanna International Group, New York Times, Biden, Susquehanna, Trump Hotels, Casino Resorts, Atlantic Locations: Yass

☆ Donald Trump's Truth Social deal has made him one of the 500 richest people in the world
▼ + stars: | 2024-03-26 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

AdvertisementDonald Trump ranks among the 500 richest people in the world, following his Truth Social deal. AdvertisementLast week, a shell company created to buy Truth Social's parent company, Trump Media & Technology Group, approved the delayed merger, The Associated Press reported. AdvertisementRepresentatives for Trump and Trump Media & Technology Group did not immediately respond to a request for comment from Business Insider, made outside normal working hours. Trump Media & Technology Group began trading at Tuesday's opening bell under the ticker symbol "DJT." Truth Social has around 5 million users and could be valued at more than $5 billion, as BI previously reported.

Persons: Donald Trump, It's, —, Trump Organizations: Truth, Service, Bloomberg, Trump Media & Technology Group, Associated Press, Trump, Business Locations: New York

☆ Trump's Truth Social has only 5 million members and is performing badly but could be valued at more than $5 billion
▼ + stars: | 2024-03-24 | by ( Rebecca Rommen | ) www.businessinsider.com time to read: +1 min

Trump Media's social media app could be valued at more than $5 billion. Investors in Digital World Acquisition Corp. approved a merger deal with Trump's company. Despite the potential windfall, Truth Social is facing mounting losses. AdvertisementDonald Trump's social media platform is losing money, but it could still be valued at over $5 billion. Former President Trump's Truth Social is set to become part of a publicly traded company after a long-delayed merger was approved.

Persons: —, Donald, Trump's Organizations: Trump, Service, Trump Media & Technology Group, Associated Press, Business

☆ Trump risks tanking Truth Social's stock price if he cashes out
▼ + stars: | 2024-03-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Donald Trump's social media platform Truth Social is set to go public next week. Truth Social, a platform developed by former president Donald Trump, has finally secured approval to merge with its shell company Digital World Acquisition Corp. After all, many DWAC investors don't appear to be trading on fundamentals, especially as Truth Social isn't reputed for high usage or revenue. Social Truth user KookyBar said after the merger, writing in a forum dedicated to DWAC. At a price of $40, the newly formed Truth Social entity would be worth more than $5 billion, with Trump owning a majority of the stock.

Persons: Donald Trump's, —, Donald Trump, Joe Biden, Trump, Donald Trump Jr, Devin Nunes, KookyBar Organizations: Service, Corp, Trump, SEC Locations: New York

☆ How NY's Judge Engoron is tightening the leash on Trump ahead of looming Truth Social merger and fraud judgement deadline
▼ + stars: | 2024-03-21 | by ( Laura Italiano | ) www.businessinsider.com time to read: +5 min

There are currently 415 entities — including the LLCs holding his physical properties — under the Trump Org umbrella. Trust Revocable Trust, which holds all of Trump Org's assets and for which Trump is the sole beneficiary. The judge also ordered on Thursday that Trump foot the bill for the additional staff needed for this extra monitoring. More penaltiesViolations of Thursday's order could result in the judge ordering more penalties against Trump Org, the judge warned. Trump and his three codefendants — Donald Trump, Jr., Eric Trump, and former Trump Org CFO Allen Weisselberg — owe a combined fraud-trial penalty of $467 million as of Thursday, according to a penalty calculator maintained by the Associated Press.

Persons: —, Donald Trump's, Trump's, Barbara Jones —, who's, Arthur Engoron, Trump, Engoron, Donald J, Jones, Letitia James, — Donald Trump , Jr, Eric Trump, Allen Weisselberg —, he's Organizations: Service, Wall Street, Business, Trump Organization, Trump Org, Trump, Trump's, Revocable Trust, New York, Associated Press, New, Bloomberg Locations: Trump's, New York, Westchester County, Manhattan, Seven Springs

☆ Cramer's Lightning Round: Transocean is 'too down and out'
▼ + stars: | 2024-03-07 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Sprout Social's year-to-date stock performance. Stock Chart Icon Stock chart icon MannKind's year-to-date stock performance. Stock Chart Icon Stock chart icon Riot Platforms' year-to-date stock performance. Stock Chart Icon Stock chart icon Transocean's year-to-date stock performance. Stock Chart Icon Stock chart icon SoFi's year-to-date stock performance.

Persons: Sprout, they're, it's, I've Organizations: Dutch Bros, Halliburton

☆ Donald Trump's Truth Social loses tens of millions of dollars this year
▼ + stars: | 2023-11-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Donald Trump launched Truth Social after he was banned from X/Twitter following the January 6 riots. AdvertisementDonald Trump's social media platform, Truth Social, has lost tens of millions of dollars this year, according to SEC filings released Monday. AdvertisementDigital World has now asked investors to extend the deadline for the Truth Social deal. Although the former president's X account has since been reinstated, he's upheld an exclusivity deal to post first on Truth Social. AdvertisementHowever, Truth Social has struggled to attract the same level of interest compared with social media platforms.

Persons: Donald Trump, —, Donald, Trump, Devin Nunes, he's Organizations: Service, SEC, World, Corp, Truth Social, Trump Media, Technology, Department of Justice, Truth, CNBC, Twitter, Big Tech, Social, Trump, Forbes

☆ Trump's Truth Social has lost $73 million since its launch, faces potential shutdown
▼ + stars: | 2023-11-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

In its first fiscal year ending Dec. 2022, TMTG, Truth Social's parent company, lost over $50 million on $1.4 million in sales. Given that origin story, Truth Social has branded itself as a safe haven from "Big Tech censorship," a vision that must be realized for Truth Social to maintain any sort of competitive advantage, according to the filing. Trump returned to X, the platform formerly known as Twitter, in August, though he has said Truth Social is still his primary social media platform. Trump's presence on Truth Social started as a boon for the company but has now become a crutch. But even the former president's loyalty to Truth Social may not be enough to keep the platform afloat on its own.

Persons: Donald Trump, Joe Biden's, DWAC, Devin Nunes, Nunes, Trump, Elon Musk Organizations: Acquisition Corporation, Trump Media, Technology Group, Trump, Republican, DWAC, Securities and Exchange Commission, Truth, Twitter, Facebook, U.S . Capitol, Big Tech, Tesla

☆ Trump's social media company has lost over $31 million since its launch, faces potential shutdown
▼ + stars: | 2023-11-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Truth Social is the alternative social media platform backed by former President Donald Trump, who posts on it several times a day. If the merger does not happen, the DWAC filing warned, TMTG might be unable to "fully develop" Truth Social. Trump returned to X in August, though he has said Truth Social is still his primary social media platform. Trump's presence on Truth Social started as a boon for the company but has now become a crutch. But even the former president's loyalty to Truth Social may not be enough to keep the platform afloat on its own.

Persons: TMTG, Donald Trump, DWAC, Devin Nunes, Nunes, Trump, Elon Musk Organizations: Trump Media, Technology Group, Truth, SEC, Securities and Exchange, Trump, Republican, DWAC, Twitter, Facebook, U.S . Capitol, Big Tech, Tesla

☆ Trump is furious at Forbes after the publication dropped him from its 400 wealthiest Americans list
▼ + stars: | 2023-10-09 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Trump is angry that Forbes kicked him off of its list of wealthiest Americans. Forbes says Trump just isn't worth enough money, especially because his social media play fizzled. AdvertisementAdvertisementDonald Trump on Monday lashed out at Forbes after the financial publication recently dropped the former president from its list of the 400 wealthiest Americans that includes the likes of Elon Musk, Jeff Bezos, and Warren Buffett. One of the main reasons was that Truth Social, the very social media platform where Trump lashed out at Forbes, has lost significant value. A spokesperson for Forbes pointed Insider to the publication's own story, which included a statement that defended Forbes' view of Trump's net worth.

Persons: Trump, Forbes, —, Donald Trump, Elon Musk, Jeff Bezos, Warren Buffett, Stormy Daniels, Rosie O'Donnell, Crooked Joe, " Forbes, Dan Alexander, Letitia James, Austin Russell Organizations: Forbes, Service, Monday, Trump, Republicans, New York, New, Kong, Media Investments, Whale Media Investments, China Investment Corp, China Morning Post, New York Times, Washington, Communist Party, Trump Organization Locations: China, Hong

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