Trump media partner says it has lined up $1B in capital
TMTG’s plan is to become a publicly listed company through a merger with the publicly traded Digital World Acquisition Corp.
PALM BEACH, Florida (AP) — Donald Trump’s new social media company and its special purpose acquisition company partner say the partner has agreements for $1 billion in capital from institutional investors. The former president launched Trump Media & Technology Group in October as he unveiled plans for a new messaging app called “Truth Social.”
It would rival Twitter and other social media that banned him following the Jan. 6 insurrection at the U.S. Capitol.
TMTG’s plan is to become a publicly listed company through a merger with the publicly traded Digital World Acquisition Corp. The institutional investors were not identified in a press release issued Saturday. The investment would come after the merger.
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