Trump Social Media Partner Says It Has $1B In Capital

Former President Donald Trump created a new social network that has $1 billion in capital.

Trump revealed his plans to launch a social network following being removed from Twitter and Facebook. The network is a product of Trump’s new company, Trump Media & Technology Group (TMTG), and he is the chair of the company.

TMTG intends to merge with Digital World in order to be listed publicly.

Digital World stated that $1 billion of capital was available for the venture. The company plans to invest $293 millions.

“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,” Patrick Orlando, CEO of Digital World, said of the company.

Other investors have not been identified, but Digital World said the money will come from “a diverse group” of investors.

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