Following a surge in stock price post its SPAC merger, Trump Media and Technology Group's market cap reached $9 billion, increasing Trump's net worth to $7 billion despite the company making only $4.1 million in revenue in 2023, resulting in a significant loss of $58 million. The company, which owns Truth Social, a conservative alternative to Twitter, faces skepticism due to its high stock price relative to revenue and plans to develop additional services like video streaming for "cancelled content creators" despite unclear prospects.
Shares of Trump Media & Technology Group closed 16% higher on its first day of trading, reaching $57.99 per share and giving the company a market capitalisation of nearly $8 billion. The social media platform Truth Social was launched by Donald Trump after he was banned from mainstream platforms. Trump holds a nearly 60% ownership stake in the company, valued at about $4.6 billion. Despite operating losses of $10.6 million for the first nine months of 2023, the company experienced a successful market debut. Trump faces legal challenges and financial pressures, including a reduced bond payment decision by a New York court.
Former President Donald Trump's media company, Trump Media & Technology Group, the owner of Truth Social, is on the brink of going public with shares worth over $3 billion if shareholders approve the merger with Digital World Acquisition Corp. However, experts believe this windfall may not solve Trump's financial woes as he faces a looming $464 million bond deadline in a civil fraud case. Despite potential challenges, the merger could lead to Trump owning a significant stake in the public company if approved by shareholders, with trading expected to begin shortly after the merger's closure.
Investors approved a merger deal between Digital World Acquisition Corp. and Trump Media, potentially valuing Truth Social at $5.7 billion. Despite significant losses, the platform had 5 million users in February 2022, in contrast to TikTok's 1 billion users and Facebook's 3.049 billion users. DWAC filings showed Truth Social lost $31.6 million and Trump Media lost $49 million. IPO specialist Jay Ritter expressed doubts about the company's actual value. Retail investors, some Trump supporters, remain optimistic.
Trump Media & Technology Group, featuring Truth Social, will start trading on Nasdaq after shareholders approved a merger with Digital World Acquisition Corp. Former president Donald Trump is poised to own 79 million shares worth nearly $3 billion. The company's stock will trade under the symbol DJT. Despite low revenue and high losses, its market valuation exceeds $5 billion. Investors are cautioned about Trump's track record of business failures and the possibility of him selling shares to cover legal expenses, which could impact stock prices.
Trump Media & Technology Group (TMTG), also known as T Media Tech LLC, is an American media and technology company founded in 2021 by former U.S. president Donald Trump. In October 2021, the company announced a proposed merger agreement with Digital World Acquisition Corp (DWAC), a publicly traded special-purpose acquisition company. Trump owned about 90% of the company in April 2023. Since January 2022, former U.S. representative Devin Nunes has served as the company's chief executive officer. In February 2022, TMTG launched the social network Truth Social. Trump reported in an April 2023 personal financial disclosure that he had made less than $201 from TMTG.A November 2023 DWAC financial disclosure indicated TMTG had generated losses such that management had "substantial doubt" about its ability to pay its bills, and the company's accounting firm had "substantial doubt" about the company's ability to remain in business.
Former President Donald Trump's new company, Trump Media & Technology Group, is now trading under the stock ticker symbol DJT on the Nasdaq exchange, with its main product being the social media app Truth Social. Trump's previous publicly traded company, Trump Hotels and Casino Resorts, faced financial struggles and bankruptcies despite Trump profiting personally. Trump Media's valuation at $6.7 billion seems disproportionate to its business performance, with low revenue and high losses. Trump cannot sell his shares for six months post-merger due to a lockup provision.
The Securities and Exchange Commission has given approval for the merger between Trump Media & Technology Group and Digital World Acquisition Corp, allowing Trump Media to take its social media platform, Truth Social, public. The deal could bring in $300 million for the company and would make former President Donald Trump a major stakeholder. The merger faced regulatory investigations and insider trading charges but has overcome these obstacles. Pending final approval from investors, Trump Media could soon join the ranks of public companies trading in the US.
Despite receiving glowing reviews from some users like Nick Mirtschink and Bree Duke at a recent rally, Truth Social, Donald Trump's social media platform, is facing challenges in gaining a broader user base with only around 860,000 active accounts as of November. Despite this, a merger approved by Digital World Acquisition Corp with Trump Media & Technology Group is projected to bring a significant financial gain for Trump, providing a potential avenue for his return to Wall Street under the ticker DJT.
Former President Donald Trump's media business, Trump Media & Technology Group (TMTG), will start trading on the Nasdaq stock market under the ticker symbol DJT after merging with Digital World Acquisition Corp. Trump is expected to own nearly 79 million shares of the combined company, with a potential stake value of around $3 billion. Shares of Digital World Acquisition surged 26% after the merger approval, offering a significant windfall for Trump amidst legal challenges and his involvement in the 2024 U.S. presidential elections.
Truth Social (stylized as TRUTH Social) is an alt-tech social media platform created by Trump Media & Technology Group (TMTG), an American media and technology company founded in October 2021 by former US president Donald Trump. It has been called a "Twitter clone" that competes with Parler, Gab, and Mastodon in trying to provide an alternative to Twitter and Facebook. Truth Social uses Mastodon as its backend.The service was launched on February 21, 2022. Since mid-2022, Truth Social has been facing financial and regulatory issues. The application was initially not available on Google Play because of violations of Google policies prohibiting content with physical threats and incitement to violence, but was approved for Google Play in October 2022 after agreeing to enforce policies against incitement.As of March 6, 2023, it was ranked number 101 in Apple's App Store rankings for social media apps, and SimilarWeb ranked its website as number 203 in their "News & Media Publishers" category, behind Gab at number 154, but ahead of Parler at number 1,052. Trump estimated in an April 2023 personal financial disclosure that the site's value ranged from $5 million to $25 million.Digital World Acquisition Corporation, the special-purpose acquisition company formed to fund Truth Social's parent company TMTG and take it public, disclosed in October 2023 that it was refunding to investors the $1 billion it had raised for TMTG. A November 2023 financial disclosure by DWAC indicated that Truth Social had made a cumulative loss of at least $31.5 million since its inception.
Donald Trump's beleaguered SPAC deal is finally going through, and just in time to pay nearly half a billion dollars owed over several legal actions if the board agrees to let him sell. Let's get all the acronyms out in the open. Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), has been in negotiations for years to merge with Trump Media and Technology Group (TMTG) and list on the NASDAQ as $DJT. But it has encountered obstacles in shareholder reticence, Securities and Exchange Commission (SEC) scrutiny , and even grand jury subpoenas . And that's without reckoning with the questionable success of Truth Social, the partisan social network hurriedly stood up after the former President was booted from Twitter.
In October 2021, former president Donald Trump announced that his media company, the owner of the platform Truth Social, had sealed an incredible deal: a merger with a special-purpose acquisition company that would deliver to his firm $300 million toward his promise of giving a voice to all. By then, however, the insider trading by investors in the SPAC, Digital World Acquisition, had already begun, according to documents filed recently in the criminal case against three Digital World investors whove been charged with securities fraud in federal court in New York. Digital Worlds chief executive, Patrick Orlando, a Miami financier Trump had hosted at his golf clubs, had been telling investors privately for months that hed been talking with Trump about the deal, the filings assert a violation of federal securities law, the Securities and Exchange Commission would say later, given his companys pledge in regulatory filings that its leaders had held no talks with any merger targets. One investor, the Miami Beach businessman Anton Postolnikov, had amassed a huge stake in Digital World. Postolnikov, who was born in Russia and is the nephew of a longtime Russian government official, sold most of his stake just days after Trumps announcement sent the stock soaring, according to an FBI agents search warrant affidavit.
Donald Trump's use of social media attracted attention worldwide since he joined Twitter in May 2009. Over nearly twelve years, Trump tweeted around 57,000 times, including about 8,000 times during the 2016 election campaign and over 25,000 times during his presidency. The White House said the tweets should be considered official statements. When Twitter banned Trump from the platform in January 2021 during the final days of his term, his handle @realDonaldTrump had over 88.9 million followers. On November 19, 2022, Twitter's new owner, Elon Musk, reinstated his account, although Trump has stated he will not use it in favor of his own social media platform, Truth Social. The first tweet since 2021 was made in August 2023 about his mugshot from Fulton County Jail, but the account has since remained inactive.For most of Trump's presidency, his account on Twitter, where he often posted controversial and false statements, remained unmoderated in the name of "public interest". Congress performed its own form of moderation: on July 16, 2019, the House of Representatives voted mostly along party lines to censure him for "racist comments" he had tweeted two days previously. In the face of this political censure, his tweets only accelerated. An investigation by The New York Times published November 2, 2019, found that, during his time in office to date, Trump had already retweeted at least 145 accounts that "have pushed conspiracy or fringe content, including more than two dozen that have since been suspended." In 2020, Trump also spread misinformation about the COVID-19 pandemic.During his 2020 reelection campaign, he falsely suggested that postal voting or electoral fraud may compromise the election, prompting Twitter to either remove such tweets or label them as disputed. After his election loss, Trump persistently undermined the election results in the weeks leading to Joe Biden's inauguration. His tweets played a role in inciting the January 6, 2021, attack of the US Capitol during the formal counting of electoral votes. Though the Senate eventually acquitted Trump during his second impeachment, social media companies swiftly banned him. Facebook and Instagram banned him for two years. Twitter permanently suspended his @realDonaldTrump handle, followed by the official account of his campaign (@TeamTrump) and the accounts of allies who posted on his behalf, like Trump campaign digital director Gary Coby. Twitter also deleted three tweets by Trump on the @POTUS handle and barred access to the presidential account until Joe Biden's inauguration. During the first week that Trump was banned on several platforms (January 9–15), election-related misinformation declined 73 percent, according to research analytics firm Zignal Labs.As Trump continued to issue brief statements, his spokesperson Liz Harrington tweeted screenshots of them under the Save America logo from June 2021 to June 2022. Since then, however, her Twitter handle @realLizUSA has been infrequently used. She said she would move to Truth Social, a Trump-affiliated social media application that launched on February 21, 2022.On April 4, 2023, at his arraignment hearing, Trump was warned by Acting New York Supreme Court Justice Juan Merchan not to use social media to incite violence.
Former President Donald Trump's campaign plans to raise over $33 million in a single-event fundraiser in Palm Beach, aiming to surpass President Joe Biden's recent record. The event, hosted by prominent donors, requires contributions of $814,600 or $250,000 per person, with perks including a personalized copy of Trump's book. Trump's campaign aims to shift negative narratives, highlighting his ability to attract large donations following struggles with legal fees. Despite this, Trump faces financial challenges compared to Democrats' substantial funds on hand.
Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump received a Bachelor of Science in economics from the University of Pennsylvania in 1968, and his father named him president of his real estate business in 1971. Trump renamed it the Trump Organization and reoriented the company toward building and renovating skyscrapers, hotels, casinos, and golf courses. After a series of business failures in the late twentieth century, he successfully launched side ventures that required little capital, mostly by licensing the Trump name. From 2004 to 2015, he co-produced and hosted the reality television series The Apprentice. He and his businesses have been plaintiff or defendant in more than 4,000 state and federal legal actions, including six business bankruptcies.Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. During the campaign, his political positions were described as populist, protectionist, isolationist, and nationalist. His election and policies sparked numerous protests. He was the first U.S. president with no prior military or government experience. A special counsel investigation established that Russia had interfered in the 2016 election to favor Trump's campaign. Trump promoted conspiracy theories and made many false and misleading statements during his campaigns and presidency, to a degree unprecedented in American politics. Many of his comments and actions have been characterized as racially charged or racist and many as misogynistic.As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a policy of family separations for migrants detained at the U.S. border. He weakened environmental protections, rolling back more than 100 environmental policies and regulations. He signed the Tax Cuts and Jobs Act of 2017, which cut taxes for individuals and businesses and rescinded the individual health insurance mandate penalty of the Affordable Care Act. He appointed Neil Gorsuch, Brett Kavanaugh, and Amy Coney Barrett to the U.S. Supreme Court. He reacted slowly to the COVID-19 pandemic, ignored or contradicted many recommendations from health officials, used political pressure to interfere with testing efforts, and spread misinformation about unproven treatments. Trump initiated a trade war with China and withdrew the U.S. from the proposed Trans-Pacific Partnership trade agreement, the Paris Agreement on climate change, and the Iran nuclear deal. He met with North Korean leader Kim Jong Un three times but made no progress on denuclearization.Trump refused to concede after losing the 2020 presidential election to Joe Biden, falsely claiming widespread electoral fraud, and attempted to overturn the results by pressuring government officials, mounting scores of unsuccessful legal challenges, and obstructing the presidential transition. On January 6, 2021, he urged his supporters to march to the U.S. Capitol, which many of them then attacked, resulting in multiple deaths and interrupting the electoral vote count.Trump is the only American president to have been impeached twice. After he tried to pressure Ukraine in 2019 to investigate Biden, he was impeached by the House of Representatives for abuse of power and obstruction of Congress; he was acquitted by the Senate in February 2020. The House impeached him again in January 2021, for incitement of insurrection, and the Senate acquitted him in February. Scholars and historians rank Trump as one of the worst presidents in American history.Since leaving office, Trump has continued to dominate the Republican Party and is a candidate in the 2024 Republican presidential primaries. In 2023, a civil trial jury found that Trump sexually abused E. Jean Carroll. In 2024, a New York state court found Trump liable for financial fraud. Trump is appealing both judgments. He was also indicted in New York on 34 felony counts of falsifying business records, in Florida on 40 felony counts related to his mishandling of classified documents, in Washington, D.C., on four felony counts of conspiracy and obstruction for efforts to overturn the 2020 presidential election, and in Georgia on 13 charges of racketeering and other alleged felonies committed in an effort to overturn the state's 2020 election results. Trump pleaded not guilty to all charges.
Digital World Acquisition Corp (DWAC), is an American special-purpose acquisition company, founded in 2021. In October 2021, the company announced a proposed merger agreement with Trump Media & Technology Group, the owner of Truth Social.
Don't expect to see a gold-plated toilet dragged to the curb outside Trump Tower. Nor will there be padlocks summarily clapped on the glass revolving doors of 40 Wall Street or Trump Plaza. Donald Trump's March 25 deadline for showing Attorney General Letitia James the money the now $457 million civil fraud judgment he owes New York will likely come and go without any outward signs of tumult. But if Trump doesn't come up with the cash, bond , bankruptcy, or appellate stay that he needs to stop her, James has promised to immediately begin "enforcement," a process that includes the potential seizing of his bank balances and the sheriff's sale of some of his New York City and upstate New York properties . And the estimated $3 billion he's expected to reap six months from now, from taking Truth Social public, may come too late to ward off the auctioneers.
The 2016 presidential campaign of Donald Trump was formally launched on June 16, 2015, at Trump Tower in New York City. Trump was the Republican nominee for President of the United States in the 2016 election, having won the most state primaries, caucuses, and delegates at the 2016 Republican National Convention. He chose Mike Pence, the sitting governor of Indiana, as his vice presidential running mate. On November 8, 2016, Trump and Pence were elected president and vice president of the United States. Trump's populist positions in opposition to illegal immigration and various trade agreements, such as the Trans-Pacific Partnership, earned him support especially among voters who were male, white, blue-collar, working class, and those without college degrees. Many voters in the Rust Belt, who gave Trump the electoral votes needed to win the presidency, switched from supporting Bernie Sanders to Trump after Hillary Clinton won the Democratic nomination.Many of Trump's remarks were controversial and helped his campaign garner extensive coverage by the mainstream media, trending topics, and social media. Trump's campaign rallies attracted large crowds as well as public controversy. Some of the events were marked by incidents of violence between Trump supporters and protesters, mistreatment of some journalists, and disruption by a large group of protesters who effectively shut down a major rally in Chicago. Trump himself was accused of inciting violence at his rallies.Trump's disdain for political correctness was a staple theme of his campaign and proved popular among his supporters. Many, including some mainstream commentators and some prominent Republicans, viewed him as appealing to racism, a charge that Trump has repeatedly denied. Trump's most polarizing and widely reported proposals were about issues of immigration and border security, especially his proposed deportation of all illegal immigrants, the proposed construction of a substantial wall on the Mexico–United States border at Mexican expense, his characterizations of many illegal Mexican immigrants as "criminals, drug dealers, rapists, etc", and a temporary ban on foreign Muslims entering the U.S. After considerable backlash, he later modified the "Trump travel ban" to apply to people originating from countries which he described as having a history of terrorism against the United States or its allies. This was also criticized for excluding countries which the U.S. has significant financial ties with, such as Saudi Arabia.Opposition to Trump grew during his campaign among both Republicans (who viewed Trump as irrevocably damaging to the party and its chances of winning elections during and after 2016, leading to the coalescence of the Stop Trump movement) and Democrats (who decried Trump's anti-immigrant and anti-Muslim policies, his behavior toward critics, his treatment of the media, and his support from the ethno-nationalist alt-right). Although some prominent Republican leaders declined to endorse Trump after he won the Republican nomination, many Republican congress-members showed support for Trump and his policy positions despite major personal or political conflicts with him. Some such supporters of Trump's campaign were accused, by both conservatives and liberals, of prioritizing party loyalty and avoiding alienation of Trump supporters to ensure re-election, thereby refraining from condemning Trump's actions.On January 6, 2017, the United States government's intelligence agencies concluded that the Russian government interfered in the 2016 United States elections against the campaign of Hillary Clinton and in support of Trump. As president, Trump repeatedly rejected the conclusions of the U.S. intelligence agencies.
Submit Thanks for contacting us. We've received your submission. Hes a real space cadet! Don Lemon who submitted a wish list that included demands for a free Cybertruck in contract talks with X before he was unceremoniously dumped last week also wanted SpaceX boss Elon Musk to launch him into orbit for the first-ever extraterrestrial podcast, The Post has learned. First podcast in space to be hosted by Don (via SpaceX), the bulleted line item reads. The literally out-of-this-world ask was on a document Lemons agents at United Talent Agency sent to Musks social media site that also included demands for a $5 million advance on top of an $8 million base salary, equity in the company, and veto power over the sites news content policies and its roster of creators, as The Post reported exclusively last week.
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