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Trump Media Group Sues Co-Founders Over Stake Dispute

Published: 03 April 2024 at 00:26

Politics

Trump Media & Technology Group, led by former President Donald Trump, filed a lawsuit against co-founders Andy Litinsky and Wes Moss seeking to eliminate their stakes in the company. Litinsky and Moss face allegations of reckless and wasteful decisions that caused significant damage to the multi-billion dollar company. Litinsky and Moss had previously filed a lawsuit against Trump, claiming he planned to dilute their stake. Trump owns a majority of shares in Trump Media, which went public and saw its stock price fluctuate, experiencing a significant increase at launch.

DEEP DIVE


Trump Media & Technology Group (Wikipedia)


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.

Trump Media & Technology Group Soars in Market Debut Despite Operating Losses


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.

Trump's Social-Media Company Trump Media and Technology Group (TMTG) Sees Surging Stock Price After SPAC Merger, But Faces Revenue Challenges


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.

New Trump Media & Technology Group Enters Nasdaq with Stock Ticker DJT


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.

Trump Media & Technology Group to Begin Trading on Nasdaq with Truth Social


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.

Former President Trump's Media Company Nears Billion-Dollar Windfall


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.

SEC Approves Trump Media's Merger to Take Truth Social Public


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.

Trump Media & Technology Group to Begin Trading on Nasdaq


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.

The Trump Organization (Wikipedia)


The Trump Organization is an American privately-owned conglomerate owned by Donald Trump. It serves as the holding company for all of Trump's business ventures and investments, with around 250 of its affiliates and subsidiaries using the Trump name. Donald Trump joined the organization in 1968, began leading it in 1971, renamed it around 1973, and handed off its leadership to his children in 2017 after he won the 2016 United States presidential election. The Trump Organization, through its various constituent companies and partnerships, has or has had interests in real estate development, investing, brokerage, sales and marketing, and property management. Trump Organization entities own, operate, invest in, and develop residential real estate, hotels, resorts, residential towers, and golf courses in various countries. They also operate or have operated in construction, hospitality, casinos, entertainment, book and magazine publishing, broadcast media, model management, retail, financial services, food and beverages, business education, online travel, commercial and private aviation, and beauty pageants. Trump Organization entities also own the New York television production company that produced the reality television franchise The Apprentice. Retail operations include or have included fashion apparel, jewelry and accessories, books, home furnishings, lighting products, bath textiles and accessories, bedding, home fragrance products, small leather goods, vodka, wine, barware, steaks, chocolate bars, and bottled spring water.Since the financial statements of the Trump Organization's holdings and Donald Trump's personal tax returns are both private, its true value is not publicly known, though a wide range of estimates have been made. Trump has publicly released little definitive financial documentation to confirm his valuation claims. On several occasions, Trump has been accused of deliberately inflating the valuation of Trump Organization properties through aggressive lobbying of the media (in particular the authors of the annual Forbes 400 list) to bolster his perceived net worth.By 2019, the Trump Organization was being scrutinized by New York investigators for possible financial fraud. In July 2021, New York prosecutors charged the organization with 10 counts in an alleged 15-year tax avoidance scheme. In November, The Washington Post reported that between 2011 and 2015 the organization presented several properties as being worth far more to potential lenders than to tax officials. In August 2022, the organization's chief financial officer, Allen Weisselberg, pleaded guilty to committing more than a dozen felonies, including criminal tax fraud and grand larceny. In September 2022, New York Attorney General Letitia James announced a civil lawsuit against the organization. A separate criminal case by the Manhattan district attorney was brought to trial in October; on December 6, the organization was convicted on 17 criminal charges.In September 2023, the judge presiding over the civil suit ruled that Trump, his adult sons and the organization repeatedly committed fraud and ordered their New York business certificates canceled and their business entities sent into receivership for dissolution in what has been described by observers as a "corporate death penalty". Trump and the organization were ordered to pay nearly $355 million before interest in February 2024, with further restrictions placed on the Trump Organization's business certificates, and on both Trump and his adult sons' ability to do business in New York.

Financial Status of Donald Trump's Social Media Company Revealed After Merger


Following the completion of its SPAC merger, Donald Trump's social media company, Trump Media and Technology Group, reported a revenue of $4.1 million for 2023. The company's stock, trading under DJT, initially surged in value, increasing Trump's net worth to $7 billion. However, the company's financial condition raises concerns about its sustainability, with the stock price later tumbling by over 25%. Trump's ability to sell shares is restricted for six months unless the board intervenes.

Donald Trump Jr. (Wikipedia)


Donald John Trump Jr. (born December 31, 1977) is an American businessman, former television presenter, political activist, and author. He is the eldest child of former U.S. President Donald Trump and his first wife Ivana Trump.Trump serves as a trustee and executive vice president of The Trump Organization, running the company alongside his younger brother Eric. During their father's presidency, the brothers continued to do deals and investments in foreign countries, as well as collect payments in their U.S. properties from foreign governments, despite a pledge that they would not do so. He served as a boardroom judge on the reality TV show featuring his father, The Apprentice. He authored Triggered in 2019 and Liberal Privilege in 2020.Trump was active in his father's 2016 presidential campaign. He cooperated with Russia in their interference in the 2016 United States elections and had a meeting with a Russian lawyer who promised damaging information about the campaign of Hillary Clinton in the 2016 presidential election. Trump campaigned for several Republicans during the 2018 midterm elections. He has promoted several conspiracy theories.Trump was also active in his father's 2020 presidential campaign, often being on the campaign trail and being featured in the news for making unfounded claims. During the election he called for "total war" as the results were counted and promoted the stolen election conspiracy theory. Following his father's defeat, he engaged in attempts to overturn the results. He spoke at the rally that led to the storming of the Capitol, where he threatened Trump's opponents that "we're coming for you." In January 2021, Attorney General for the District of Columbia Karl Racine said that he is looking at whether to charge Donald Trump Jr. with inciting the violent attack on the U.S. Capitol in the criminal investigation into the attack. CNN reported in April 2022 that two days after the election, Trump Jr. sent a text message to White House Chief of Staff Mark Meadows outlining paths to subvert the Electoral College process and ensure his father a second term.

Trump's Truth Social Could Be Valued at Over $5 Billion Despite Mounting Losses


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.

Social media use by Donald Trump (Wikipedia)


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.

Truth Social SPAC could pay Trump's astronomical legal bills - if board OKs it


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.

Donald Trump (Wikipedia)


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.

Truth Social (Wikipedia)


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.

Trump's Truth Social Struggles to Attract a Wider Audience While Planning Merger with Multibillion-Dollar Windfall


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.

Trump legal news brief: Billionaire Don Hankey’s company covers Trump’s $175 million fraud trial bond


Knight Specialty Insurance loans former President Donald Trump $175 million to cover the bond required to prevent New York Attorney General Letitia James from seizing his assets while he appeals the $454 million judgment in his financial fraud trial. The company is owned by billionaire Don Hankey, a Trump voter who has made his fortune offering high-interest, subprime car loans to people with bad credit. Here are the latest legal developments involving the presumptive Republican presidential nominee. Knight Specialty Insurance pays Trumps $175 million fraud trial bond Key players : Knight Specialty Insurance CEO Don Hankey , Judge Arthur Engoron , New York Attorney General Letitia James , Trump attorney Alina Habba On Monday, the Knight Specialty Insurance Co. loaned Trump $175 million to cover his bond in the civil financial fraud trial, Bloomberg reported .

Legal affairs of Donald Trump as president (Wikipedia)


The following is a list of notable lawsuits involving former United States president Donald Trump. The list excludes cases that only name Trump as a legal formality in his capacity as president, such as habeas corpus requests.On August 1, 2023, Trump was indicted by a federal grand jury on four criminal conspiracy and obstruction charges related to attempts to overturn the 2020 election. On March 4, 2024, he is expected to face trial.On August 14, 2023, he was indicted by a state grand jury in Georgia on 13 criminal charges also related to attempts to overturn the 2020 election.

Andy Dean (Wikipedia)


Andrew Dean Litinsky (born June 11, 1981), better known as Andy Dean, is an American nationally syndicated radio talk show host, political commentator, and media executive. Litinsky is the co-founder of ZideLitinsky Media with Billion Dollar Box Office producer Warren Zide, producer of film franchises including American Pie and Final Destination.His nationally syndicated radio show, America Now with Andy Dean, discussed politics, business, entertainment, and technology. It aired weekdays from 6pm to 9pm EDT. The program aired nationally in Premiere Radio Networks syndicated 'Big 4' lineup with Glenn Beck, Rush Limbaugh, and Sean Hannity. Prior to his nationally syndicated show, The Andy Dean Program was broadcast on WSB in Atlanta, Georgia. While at WSB, Dean was one of the most frequently used guest hosts, and one of the most popular guest hosts, of the Herman Cain radio program, and served as a fill in host for national radio show host, Neal Boortz.Litinsky was one of the youngest candidates to compete on NBC's The Apprentice and holds the title as the only candidate to be re-hired by Donald Trump to run his production company Trump Productions LLC.

Former California judge calls for jail time if Trump defies court order


Former California Superior Court Judge LaDoris Hazzard Cordell urges immediate consequences, including jail time, if former President Donald Trump violates court orders. Acting New York Supreme Court Justice Juan Merchan imposed a gag order on Trump, who has criticized Merchan on his Truth Social platform. Cordell calls for an expanded gag order to include Merchan, Manhattan DA Alvin Bragg, and their families to prevent threats and intimidation towards the court system.

Donald Trump 2016 presidential campaign (Wikipedia)


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.

Digital World Acquisition Corp (Wikipedia)


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.

Trumpism (Wikipedia)


Trumpism is an authoritarian political movement that follows the political ideologies associated with Donald Trump and his political base. Scholars and historians describe Trumpism as a movement that incorporates a wide range of right-wing ideologies such as right-wing populism, national conservatism, neo-nationalism, and neo-fascism. Trumpist rhetoric heavily features anti-immigrant, xenophobic, nativist, and racist attacks against minority groups. Other identified aspects include conspiracist, isolationist, Christian nationalist, protectionist, anti-feminist, and anti-LGBT beliefs. Trumpists and Trumpians are terms that refer to individuals exhibiting its characteristics. According to Peter E. Gordon, a historian of philosophy and critical theorist, the distinguishing mark of Trumpism is that it is authoritarian, meaning that Trumpists do not want presidential power to be limited by the Constitution or by the rule of law. It has been referred to as an American political variant of the far right and the national-populist and neo-nationalist sentiment seen in multiple nations worldwide from the late 2010s to the early 2020s. Though not strictly limited to any one party, Trump supporters became the largest faction of the United States Republican Party, with the remainder often characterized as "the elite" or "the establishment" in contrast. In response to the rise of Trump, there has arisen a Never Trump movement.Some commentators have rejected the populist designation for Trumpism and view it instead as part of a trend towards a new form of fascism or neo-fascism, with some referring to it as explicitly fascist and others as authoritarian and illiberal. Others have more mildly identified it as a specific light version of fascism in the United States. Some historians, including many of those using a new fascism classification, write of the hazards of direct comparisons with European fascist regimes of the 1930s, stating that while there are parallels, there are also important dissimilarities. Certain characteristics within public relations and Trump's political base have exhibited symptoms of a cult of personality.The label Trumpism has been applied to national-conservative and national-populist movements in other democracies. Many politicians outside of the United States have been labeled as staunch allies of Trump or Trumpism (or even as their countries' equivalent to Trump) by various news agencies; among them are Jair Bolsonaro of Brazil, Geert Wilders of the Netherlands, Tayyip Erdoğan of Turkey, Viktor Orbán of Hungary, Jacob Zuma of South Africa, Rodrigo Duterte and Ferdinand Marcos Jr. of the Philippines, Shinzo Abe of Japan, Javier Milei of Argentina, Yoon Suk Yeol of South Korea, Prabowo Subianto of Indonesia, and Isabel Díaz Ayuso of Spain

Trump Media Group Sues Co-Founders Over Stake Dispute Trump Media Group Sues Co-Founders Over Stake Dispute

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NBC

Trump sues Truth Social co-founders, says they're not entitled to stock shares

NBC

BBC News

Will Truth Social provide a financial bailout for Trump?

https://www.facebook.com/bbcnews

CNN

Truth Social owner Trump Media sues two of its own co-founders, seeking to wipe out their shares | CNN Business

Matt Egan

ABC News

Trump sues two Trump Media co-founders, seeking to void their stock in the company

ABC News

ABC News

Trump sues two Trump Media co-founders, seeking to void their stock in the company

ABC News

AP News

Trump sues two Trump Media co-founders, seeking to void their stock in the company

AP News

Yahoo! News

Trump sues Truth Social co-founders, says they're not entitled to stock shares

Yahoo! News

Daily Mail

Trump sues two Truth Social co-founders, says mistakes cost him money

Stephen M. Lepore

Wikipedia

Trump Media & Technology Group

Wikipedia

PANORA

Trump Media & Technology Group Soars in Market Debut Despite Operating Losses

PANORA

PANORA

Trump's Social-Media Company Trump Media and Technology Group (TMTG) Sees Surging Stock Price After SPAC Merger, But Faces Revenue Challenges

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New Trump Media & Technology Group Enters Nasdaq with Stock Ticker DJT

PANORA

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Trump Media & Technology Group to Begin Trading on Nasdaq with Truth Social

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Former President Trump's Media Company Nears Billion-Dollar Windfall

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SEC Approves Trump Media's Merger to Take Truth Social Public

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Trump Media & Technology Group to Begin Trading on Nasdaq

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Wikipedia

The Trump Organization

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Financial Status of Donald Trump's Social Media Company Revealed After Merger

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Donald Trump Jr.

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PANORA

Trump's Truth Social Could Be Valued at Over $5 Billion Despite Mounting Losses

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Social media use by Donald Trump

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PANORA

Truth Social SPAC could pay Trump's astronomical legal bills - if board OKs it

PANORA

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Donald Trump

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Truth Social

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PANORA

Trump's Truth Social Struggles to Attract a Wider Audience While Planning Merger with Multibillion-Dollar Windfall

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Trump legal news brief: Billionaire Don Hankey’s company covers Trump’s $175 million fraud trial bond

PANORA

Wikipedia

Legal affairs of Donald Trump as president

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Andy Dean

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Former California judge calls for jail time if Trump defies court order

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Donald Trump 2016 presidential campaign

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Digital World Acquisition Corp

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Trumpism

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