Donald Trump (pixabay photo, pexels)
The startup of Donald Trump on social media has raised $ 1 billion from unidentified investors while he continues with plans to go public through a merger with a special-purpose acquisition company. This is a private investment in a public company (PIPE).
Former United States President Donald Trump’s media and technology group, who will be listed on the Nasdaq, plans to launch a new social media platform next year called Truth Social. The attack on the Capitol when rival Joe Biden won the election.
Trump has previously accused these platforms of censorship and political discrimination against conservatives, and has repeated this accusation alongside the IPO. Following the blockade, he launched the blog “From Donald J. Trump’s Desktop” – initially describing it as a platform – but closed it less than a month later when one of his aides, Jason Miller, published to CNBC that the page “was just Helped the broader efforts we have and are working on, ”hinted ahead of the launch of the new social media platform.
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“A billion dollars sends an important message to Big Tech,” Mr. Trump said in a press release announcing the recruitment. “As our balance sheet expands, Trump Media & Technology Group will be in a stronger position to fight against Big Tech’s tyranny,” he added. The former president’s success in attracting financial backers stemmed from his personal and political brand. There are still no public details on who the investors are, nor the financial details of the new company, and the merger deal with Digital World Acquisition Corp has not yet been closed, Bloomberg reported.
The Reuters news agency reported that U.S. Senator Elizabeth Warren had asked SEC Chairman Gary Gansler to investigate the planned merger due to potential violations of securities laws. The SEC declined to comment if it planned any action.
This happens when Mr. Trump continues to solicit donations, while “flirting” with the possibility that he may run again in 2024, but without giving any official commitment – which could place restrictions on his fundraising activities. Truth Social has been defined as allowing conservatives freedom of expression without the platform moderating their messages “on the basis of political ideology”. Mr. Trump went on to claim without evidence that the election of his rival Mr. Biden was a scam.
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