Bloomberg reportedly buys Trump post feed costing up to $100,000 a month

Reuters reported that Bloomberg, Susquehanna International Group and Jump Trading purchased Truth Social's paid feed of Donald Trump's posts, citing sources. Access costs up to $100,000 monthly. Critics describe the arrangement as unethical. Bloomberg, Susquehanna and Jump declined to comment on the previously undisclosed purchases.

Trump Media and Technology Group (DJT), the owner of Truth Social, introduced the service under the name Truth API in July. An application programming interface, or API, enables software systems to connect. Susquehanna and Jump conduct high-frequency trading using automated strategies driven by algorithms. Earlier access to potentially market-moving posts provides those firms with an advantage that ordinary investors lack. Trump Media said in August that the service had attracted more than 10 customers, predominantly high-frequency trading firms. Trump Media said the API meets industry standards and attracts substantial demand from multiple industries.

A trust established for Trump's family owns 41% of Trump Media, with Trump as the trust's sole beneficiary. Securities and Exchange Commission filings identify Donald Trump Jr. as the trustee with exclusive authority over voting and investment decisions. White House spokesman Davis Ingle said neither Trump nor Trump's family participates directly in portfolio investment decisions. Ingle offered no response to the allegation that Trump is misusing the presidency.

Intercept Media and the Freedom of the Press Foundation filed a lawsuit against Trump over Truth API in August. The plaintiffs seek to stop the White House from using Truth Social exclusively for announcements while the paid feed remains available. The plaintiffs argue that charging for government information could be unconstitutional and gives Wall Street preferential access.

Reuters reported that Trump Media's stock has fallen more than 50% this year. Trump Media's valuation is approximately $1.8 billion, compared with about $8 billion when the company debuted in March 2024. Reuters assessed that the purchases are likely the first instances of a company linked to a sitting president selling that president's statements. Reuters characterized the arrangement's legal basis as untested. The pending lawsuit directly challenges that legal basis. The ruling could determine whether Wall Street can continue buying faster access to presidential messages.