Trump media revenue less than one McDonald’s franchise
Former President Donald Trump‘s media company’s quarterly revenue is less than that of an average McDonald’s franchise, according to Newsweek‘s calculations.
Trump Media & Technology Group (TMTG) is majority-owned by Trump, and is the parent company of social-media platform Truth Social, where the Republican nominee frequently posts messages to his followers.
Franchise disclosure documents show that an average franchised McDonald’s restaurant makes $3.5 million annually. When divided by four to estimate quarterly revenue, this comes to $876,250.
TMTG’s Q2 earnings, published in August, show that it earned $837,000 in revenue that quarter─$39,250 less than the average McDonald’s franchise. Q3 ended in September and TMTG is yet to report these earnings.
Evan Vucci/Associated Press
Newsweek calculated the approximate quarterly earnings based on the annual figure in the McDonald’s franchise disclosure documents, and the actual revenue of a given McDonald’s franchise will differ depending on various factors, such as location.
Newsweek contacted McDonald’s for comment via its press office.
When approached for comment on its findings, TMTG spokesperson Shannon Devine said, “Newsweek once again proves why its articles make readers less intelligent.”
Trump recently made headlines when he stopped off at a Pennsylvania McDonald’s, where he donned an apron and worked the fry station.
“I really wanted to do this all my life,” the Republican told reporters prior to his arrival.
Trump’s visit to the Bucks County McDonald’s comes amid his escalating attacks on his rival for the presidency, Vice President Kamala Harris, who has previously said she worked at the fast-food giant during her college years.
Evan Vucci)/AP Photo
Trump’s campaign stunt in the key swing state is the latest chapter in his long-running and well documented love affair with the burger chain.
For example, Trump’s son Donald Trump Jr. told Fox News last week that the former president “knows the McDonald’s menu much better than Kamala Harris ever did.”
Trump’s son-in-law Jared Kushner wrote in his 2022 Breaking History memoir that he “knew [Trump] was feeling better when he requested one of his favorite meals: a McDonald’s Big Mac, Filet-o-Fish, fries and a vanilla shake,” after the then-president contracted COVID-19 in 2020.
TMTG’s share price has experienced wild fluctuations since it first went public in March. But the company’s stock has been steadily rising since late September.
In May, TMTG reported a first-quarter net loss of $327.6 million.
The company’s performance on the financial markets has been previously likened to that of “meme stocks,” by finance expert Jay Ritter, professor at the University of Florida in Trump’s home state.
“Meme stocks thrive on attention,” Ritter told Newsweek back in June, suggesting that the share price of TMTG was largely dependent on its namesake, Trump.
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