Washington, USA: US President Donald Trump's media company plans to charge for premium high-speed access to Truth Social posts, including potentially the president's own posts that could influence financial markets and national security.
The move, announced on Thursday, would allow Wall Street trading firms and other institutions to receive posts from Truth Social contributors milliseconds ahead of other users, enabling them to potentially profit from subsequent movements in stocks, bonds and interest rates.
Called Truth PSI, the service would mirror similar premium offerings by other social media platforms. However, its most-followed user is US President Donald Trump, who is also the largest shareholder of Trump Media & Technology Group, the publicly traded parent company of Truth Social.
The Trump family company declined to comment on whether the service amounts to profiting from the presidency. Trump Media & Technology Group also did not respond to questions, including whether the president's posts would be excluded from the premium offering.
According to a company release, Truth PSI will allow subscribers to access posts from "the highest-ranking Truth Social accounts" ahead of other users. Trump has the platform's largest following with 12.9 million followers, followed by his eldest son Donald Trump Jr. and his son Eric Trump.
The company did not disclose the subscription price.
In recent months, Trump has used Truth Social to announce decisions and comment on issues including the Iran conflict, tariffs and immigration enforcement. Such posts have the potential to move financial markets, particularly when they concern geopolitical tensions or economic policy.
Shares of Trump Media & Technology Group have fallen about 70 per cent since Trump took office last year, wiping out roughly USD 6 billion in shareholder value. The decline, along with losses linked to Trump family cryptocurrency ventures, has drawn scrutiny after Trump's latest financial disclosure showed he earned more than USD 1 billion in revenue from the same businesses and offerings last year.
While US conflict-of-interest laws prohibit most government officials from profiting from their office, the president is exempt from those provisions.
Nevertheless, previous US presidents have generally sought to avoid potential conflicts by divesting business interests, selling individual stocks or placing assets in blind trusts. Trump has declined to take those steps.
Trump Media has recently sought to diversify its business through investments in cryptocurrency, financial services and nuclear fusion. The company also replaced former Congressman Devin Nunes as chief executive officer with media executive Kevin McGurn.
In the company's announcement, McGurn described Truth PSI as part of a broader strategy to "monetise proprietary assets" and said he expects it to become a "meaningful, ongoing source of revenue".
Trump Media said the service is expected to launch next month and that it has already secured customers.
The company's shares rose 0.6 per cent to USD 9.63 on Thursday. Before Trump took office last year, the stock had closed at USD 40.