© REUTERS
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Former US President Donald Trump has raised $1 billion from institutional investors to set up his own social medium. After the storming of the Capitol in January by Trump supporters, he was banned from Facebook, Twitter and YouTube. “The $1 billion sends an important message to Big Tech that censorship and political discrimination must end,” the former president said.
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evdgSource: BELGIAN
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It is not known who is behind the financing.
The ‘Trump Media & Technology Group’ would like to launch its own social media app early next year: “Truth Social”. The company is also planning an IPO and is partnering with Digital World Acquisition. This is a so-called Special Purpose Acquisition Company (SPAC), an empty shell that is placed on the stock exchange with the aim of merging with other companies afterwards and thus bringing them to the stock exchange.
But Democrat Senator Elizabeth Warren has already asked the SEC to investigate that partnership for possible violations of stock market regulations. The SEC has not yet responded.
Trump had more than 89 million followers and 33 million on Facebook at the time he was blocked on Twitter.
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