Former President Donald Trump’s new media company, Trump Media & Technology Group (TMTG), announced Saturday that it has secured $1 billion in funding from a “diverse group” of institutional investors ahead of going public via a special purpose acquisition company (SPAC)—a shell company set up for the sole purpose of raising money to acquire another company. The $1.25 billion in proceeds that TMTG estimates will result from the planned merger with Digital World Acquisition Corp., a blank check company headed by financier Patrick Orlando that was set up with the intention of “combining with a leading tech company,” will ostensibly go toward the development and launch of Trump’s forthcoming social media platform, TRUTH Social, as well as future related ventures. [time-brightcove not-tgx=”true”] “$1 billion sends an important message to Big Tech that censorship and political discrimination must end.

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  • Who's Funding Donald Trump's TRUTH Social Platform? | Time
    What to Know About Digital World, the Company Funding Trump's New Social Media Platform 'TRUTH Social' By Megan McCluskey December 7, 2021 2:01 PM EST
    01/23/2022 - 5:35 am | View Website
  • Trump’s Social Media Company Stock Climbs 20% | The Daily ...
    Investors in former President Donald Trump’s social media venture’s parent company rejoiced Thursday, the anniversary of the Capitol riot, as shares skyrocketed by 20%. Digital World Acquisition Corporation (DWAC) began the day with shares hovering around $50 before rising to $60 by the close of trading.
    01/22/2022 - 6:44 pm | View Website
  • Trump Finds Backing for His Own Media Venture
    Digital World was incorporated in Miami a month after Mr. Trump lost the 2020 election. The company filed for an initial public stock offering this spring, and it sold shares to the public on the ...
    01/22/2022 - 12:32 pm | View Website
  • Trump's Truth Social platform could make millions — or go bust
    Trump's Truth Social platform could make millions — or go bust Beyond airing hot-button political issues and offering the ex-president a new bully pulpit, Truth Social is about making money.
    01/22/2022 - 10:01 am | View Website
  • Trump social media SPAC pops on $1 billion funding aim
    Shares of Digital World Acquisition Corp (), the blank check company tied to former President Trump's social media firm, soared as much as 20% on Thursday amid a report of efforts to raise $1 billion.
    01/21/2022 - 10:46 am | View Website
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