Trump Says Investors Will Invest $1 Billion in His Social Media Group

Contact Your Elected Officials
The Epoch Times Header

Former President Donald Trump has secured agreements from investors for $1 billion as he works to establish a social media platform to rival the Big Tech companies that deplatformed him.

Trump announced on Dec. 4 that the pledges from unnamed investors will turn into investments once Digital World Acquisition Corp., a blank-check firm, and the social media group known as Trump Media & Technology Group Corp. are combined. The group plans to debut a platform called TRUTH Social in 2022.

“$1 billion sends an important message to Big Tech that censorship and political discrimination must end,” Trump, the chairman of the group, said in a statement.

“Our focus on delivering public shareholder value drives our decision-making and by accepting these commitments for a strategic infusion of growth capital, we believe the combined company can grow on an incredibly strong foundation,” said Patrick Orlando, chairman of Digital World.

The investors were described as “a diverse group,” but no names were released. The capital is expected to be used to hire top talent, for advertising campaigns, and to help develop the business.

Trump has refrained from using social media since he was booted from Twitter, Facebook, and other large platforms before he left office in January.

Executives at the big tech companies accused Trump of violating their terms of service with some of his posts and suspended or banned him following the Jan. 6 breach of the U.S. Capitol. They accused him of encouraging violence with statements issued after the breach, but Trump disagreed, as his last Facebook post was calling for peace.

Trump Media & Technology Group Corp. is aimed at becoming “a media powerhouse to rival the liberal media consortium and fight back against the ‘Big Tech’ companies of Silicon Valley,” according to a company presentation.

“If Big Tech can censor the president of the United States, they can censor anyone,” the presentation stated.

The group also plans to launch a digital streaming service, a news service, and other services.

Trump’s announcement in October of the forthcoming technology alternatives drove a high volume of trading. Trading in Digital World stocks has been halted several times as the price has skyrocketed.

Some people said they made thousands of dollars from the stock.

Digital World stated in a filing that it had grossed more than $293 million from the sales of approximately 4.8 million shares.

Blank-check companies are those without a specific business plan or purpose or those that indicate that their business plans are to merge with or acquire another company or companies, according to the U.S. Securities and Exchange Commission.

By Zachary Stieber

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

If Federal Food Assistance Programs End, Theft Begins

Many patriotic Americans well versed in American History have...

Tucker EN FUEGO: Taking Stock of MAGA, Ten Years on

Draining of the Swamp has yet to come anything close to fruition, as the creatures that populate said Swamp yet cling bitterly to power.

Tylenol’s Headache

When President Trump, RFK Jr., and Dr. Mehmet Oz called for pregnant women to avoid using acetaminophen, Tylenol got the headache.

American Restaurants Are Going Broke

U.S. restaurant bankruptcies surged to 22% in 2020 amid COVID-19 and stayed elevated at 14% last year due to Biden’s “Build Back Better” policy.

A Few Fun Alternatives to the”Gory Stuff” at Halloween

Halloween has gone off the rails with gore through the decades.  But there are ways to enjoy the "scary stuff" without giving into darker, pagan alliances.  

Emergency Funds Can’t Be Used to Keep Food Stamps Flowing: USDA

Emergency funds held by the USDA cannot be used to keep the food stamp program going if members of Congress don’t reach a funding agreement.

Democratic Unity Frays as Shutdown Drags On

A handful of legislators have crossed the aisle on reopening and worker-pay bills, testing Democratic party unity in week four of the shutdown

Federal Judge Strikes Down Biden-Era HHS Transgender Care Rule

A federal judge struck down a Biden-era rule extending federal health care anti-discrimination protections to individuals seeking transgender-related treatment.

US Sending Carrier Strike Group to Latin America, Pentagon Says

The Pentagon on Friday announced the deployment of an aircraft carrier to Latin America to target drug trafficking organizations.

Donor Gives $130 Million to Cover Shortfall in Troop Pay During Shutdown

Trump announced on Oct. 23 that an anonymous donor sent $130M to cover military pay during the ongoing government shutdown.

‘Frustration’ With Canada Led to Trump Scrapping Talks, Not Just Ontario’s Ad: US Official

President Trump cited Ontario’s TV ad as the reason for halting Canada trade talks, but officials say it stems from rising U.S. frustration with Ottawa.

Ontario to Pause Anti-Tariff Ad After Trump Terminates Trade Talks With Canada

Ontario pauses its TV ad campaign after Premier Doug Ford’s talk with PM Mark Carney, following backlash that halted U.S.-Canada trade talks.

Trump Terminates Trade Negotiations With Canada Over Anti-Tariffs Ad Featuring Reagan

President Trump is terminating all trade negotiations with Canada over a TV ad campaign sponsored by the provincial govt. of Ontario opposing U.S. tariffs.
spot_img

Related Articles

Popular Categories

MAGA Business Central