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President Donald Trump’s social media company is considering charging Wall Street traders and investment firms as much as $100,000 a month for quick access to posts on Trump’s Truth Social platform, people familiar with the matter said.
Trump Media & Technology GroupThe company that owns Truth Social has also been offering discounts in recent weeks for $60,000 a month if you sign up for a three-year plan, sources said. Because the discussion is confidential, people requested anonymity.
TMTG on Thursday announced a paid, licensed data feed called the “Truth API” that will give banks and trading companies the fastest access to posts from the 10 most influential Truth social accounts, without disclosing pricing details.
The move would be the company’s first step toward data licensing and open up a new revenue stream, but it immediately drew criticism from Democrats.
Sen. Ron Wyden (Ore.), the top Democrat on the Senate Finance Committee, said this would provide “economic benefits” to the Trump family and “enrich Wall Street traders.”
The White House referred questions about Wyden’s remarks to TMTG, which did not immediately respond to a request for comment.
Trump’s social media posts often move markets, and the profits of many top trading firms, hedge funds and financial services firms depend heavily on the speed of trade execution.
For example, on April 9, 2025, Wall Street’s major indexes soared after President Trump said in a post on Truth Social that he would suspend many new tariffs for 90 days.
Access to the Truth API is essential for high-frequency trading firms, the people said, as speed benefits of just a few milliseconds can translate into hundreds of thousands of dollars in profits on large trades.
The Financial Times reported on the discussion about the $100,000 subscription fee earlier Thursday.
Benefits from policy announcements
TMTG faces challenges in strengthening its media business amid intense competition from large social media companies. The new product will provide 24-hour coverage of influential posts and will include an archive of posts dating back to 2022. The company said it has already registered customers ahead of its August 1 launch, but did not say who those customers are.
Some of the most followed accounts on Truth Social belong to people close to Trump himself, including his son Donald Trump Jr., Eric Trump, and prominent supporters such as Dan Bongino and Sean Hannity.
The Donald J. Trump Revocable Trust owns approximately 114.75 million shares, representing approximately 41% of TMTG’s total outstanding shares, according to regulatory filings. The trust is overseen by Trump’s children and manages his investments.
Critics have raised questions about whether President Trump and his family sought to increase their wealth by profiting from policies announced by his administration. President Trump reported more than $1.4 billion in income from his family’s cryptocurrency ventures in his most recent financial disclosure last year, as income from digital assets benefited from policies he announced.
Donald Sherman, president of Citizens for Responsibility and Ethics, a nonpartisan Washington watchdog group, called the Truth API deal “grossly unethical.” That’s because the president stands to benefit from payments for expedited access to his posts. But it is difficult to determine whether it is illegal from publicly available information, he said.
Sherman and other experts point out that the Constitution’s emoluments clause, which is meant to deter corruption, does not apply in this case. It prohibits federal employees from accepting gifts from foreign governments without Congressional approval and prohibits the president from accepting gifts from states.
And while federal regulations broadly prohibit buying or selling securities based on material non-public information, Sherman said that restriction does not apply when hundreds or thousands of people may have early access to his posts.
“I don’t think Congress or regulators have ever considered engaging in this type of pay-for-access type of arrangement where presidents and market leaders pay for this kind of access,” he said.
Sen. Elizabeth Warren of Massachusetts, the top Democrat on the Senate Banking Committee, said it was a “terrible plan to profit from the presidency and enrich Wall Street while doing nothing to help the American people.”
The White House has said President Trump’s business empire is overseen by his children, but the president is the beneficiary of the income flowing into his trust.
TMTG stock has lost about 27% of its value this year and closed nearly flat at $9.66 on Friday, giving the company a market value of about $2.7 billion.
