Trump social media startup receives $ 1 billion pledge from unknown ‘diverse group’ of investors

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Former President TrumpDonald TrumpGOP grapples with chaotic Senate primary in Pennsylvania Trump social media startup has received a billion pledge from an anonymous ‘diverse group’ of investors Iran thinks its hand is higher on Vienna – here’s why this is not the social media group of MORE, The Trump Media & Technology Group Corp. (TMTG), and its blank-checking company announced Saturday that it had received a $ 1 billion pledge from an unknown “diverse group of institutional investors.”

TMTG and blank-checking company Digital World Acquisition Corp. that “subscription agreements for $ 1 billion in committed capital” will be received from an anonymous group of investors when TMTG and Digital World are combined.

In October, Trump announced that he would create a social media network called “Truth Social,” whose full launch is expected in the first quarter of 2022. The network is advertised as a platform “that encourages open global dialogue without discrimination on the basis of political ideology. “

The move comes after some social media companies expelled the former president from their sites following unrest in the Capitol on Jan. 6, when Trump supporters stormed the Capitol and tried to prevent Congress from certifying the descendants of President BidenJoe BidenMarcus Garvey called on Biden to pardon the civil rights leader. posthumously GOP grapples with chaotic Senate primary in Pennsylvania Trump social media startup receives promise of billions from anonymous ‘diverse group’ of investors MORE election wins.

“The $ 1 billion sends an important message to Big Tech that censorship and political discrimination must end. America is ready for TRUTH Social, a platform that will not discriminate based on political ideology. As our balance expands, it will become stronger. the TMTG position to fight against the tyranny of Big Tech, ”Trump, who is listed as chairman of TMTG, said in a statement.

“I am confident TMTG will be able to effectively deploy this capital to accelerate and strengthen its business execution, including by continuing to attract top talent, hiring leading technology providers, and launching of significant advertising and business development campaigns, ”CEO and Chairman of Digital World. Patrick Orlando said in a statement.

TMTG also expects to debut a subscription-based video streaming service called TMTG+, which will feature “non-woke” news, entertainment, podcasts and other content.

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