Trading Concept
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Trading Concept
No Result
View All Result
Home Trading News

Trump media partner says it has lined up $1 billion in capital

by
December 6, 2021
in Trading News
0
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

Donald Trump’s new social media company and its special purpose acquisition company partner say the partner has agreements for $1 billion in capital from institutional investors.

The former president launched his new company, Trump Media & Technology Group, in October. He unveiled plans for a new messaging app called “Truth Social” to rival Twitter and the other social media platforms that banned him following the Jan. 6 insurrection at the U.S. Capitol.

RELATED POSTS

Sam Altman didn’t take any equity in OpenAI, report says

‘It was agony’: Why SVB’s collapse is especially hard as a Black founder, says CEO

TMTG’s plan is to become a publicly listed company through a merger with the publicly traded Digital World Acquisition Corp.
DWAC,
-4.54%
,
a special purpose acquisition company whose sole purpose is to acquire a private company and take it public.

The institutional investors were not identified in a press release issued Saturday by Trump Media and Digital World. The money would come from “a diverse group” of investors after the two companies are combined, it said.

Digital World said in the release that the $1 billion is above the $293 million (minus expenses) that it may invest.

“I am confident that TMTG can effectively deploy this capital to accelerate and strengthen the execution of its business, including by continuing to attract top talent, hire top technology providers, and roll out significant advertising and business development campaigns,” Digital World CEO Patrick Orlando said in the release.

Trump is listed as chair of TMTG. He will get tens of millions in special bonus shares if the combined company performs well, handing the former president possibly billions of dollars in paper wealth.

ShareTweetPin

Related Posts

Sam Altman didn’t take any equity in OpenAI, report says

by
March 24, 2023
0

Sam Altman, president of Y Combinator, pauses during the New Work Summit in Half Moon Bay, California, U.S., on Monday,...

‘It was agony’: Why SVB’s collapse is especially hard as a Black founder, says CEO

by
March 24, 2023
0

Isa Watson, founder of voice-only social messaging app Squad, was on a plane when she got the news: Silicon Valley...

Europe’s leaders battle banking crisis as market rout hangs over Brussels summit

by
March 24, 2023
0

In this article .BBKADBCSG.N-CH Follow your favorite stocksCREATE FREE ACCOUNT Germany's Chancellor Olaf Scholz said Deutsche Bank is profitable after...

BofA’s Hartnett sees commercial real estate as the ‘next shoe to drop’

by
March 24, 2023
0

Commercial real estate could be the next danger spot in the wobbly U.S. financial sector, according to Bank of America....

TikTok wants to distance itself from China — but Beijing is getting involved

by
March 24, 2023
0

China and U.S. flags are seen near a TikTok logo in this illustration picture taken July 16, 2020. Florence Lo...

Next Post

A major shift is underway at the Federal Reserve that could see a speedier end to its easy policies

China Evergrande shares plunge as it teeters on brink of default

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:



By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • WHO says Covid vaccine booster programs will prolong pandemic

    0 shares
    Share 0 Tweet 0
  • Forget Tesla — this auto stock is the one to buy right now, analyst says

    0 shares
    Share 0 Tweet 0
  • Spin or Split? AT&T Has a Big Decision to Make on Discovery Stake.

    0 shares
    Share 0 Tweet 0
  • Here’s how Carl Icahn is positioning for a possible recession in America

    0 shares
    Share 0 Tweet 0
  • Some lawmakers and their families are betting thousands of dollars on crypto

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by tradingconcept.net
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

All rights reserved by www.tradingconcept.net