President Donald Trump’s carefully cultivated image as a master businessman has taken another hit after his media company revealed nine-figure losses. Trump Media & Technology, the parent company of Truth Social, reported a $238 million loss for the three months through June, more than 10 times the loss from a year earlier, according to the Associated Press. Trump Media is placing its hopes on a controversial new scheme to cash in on Trump’s Truth Social posts, having announced the launch of a premium version of the app that gives paying customers earlier access to Truth Social posts from the president and other top accounts. McGurn brushed aside concerns that the ploy to generate revenue from Trump’s market-moving Truth Social posts presents a massive conflict of interest. Much of that revenue has come from advertising on Truth Social and related products, according to the Times.