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

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TMTGs strategy is to end up being a publicly listed business through a merger with the publicly traded Digital World Acquisition Corp
.
DWAC,
-4.54 %,. an unique function acquisition business whose sole purpose is to acquire a private company and take it public. The institutional financiers were not determined in a news release provided Saturday by Trump Media and Digital World. The cash would come from “a diverse group” of investors after the 2 companies are integrated, it stated. Digital World said in the release that the $1 billion is above the $293 million (minus costs) that it may invest. “I am positive that TMTG can successfully deploy this capital to enhance the execution and speed up of its service, including by continuing to draw in leading talent, work with leading innovation companies, and present substantial advertising and business development projects,” Digital World CEO Patrick Orlando stated in the release. Trump is noted as chair of TMTG. He will get tens of millions in unique bonus shares if the combined business performs well, handing the former president potentially billions of dollars in paper wealth.

Donald Trumps brand-new social networks business and its special purpose acquisition business partner say the partner has agreements for $1 billion in capital from institutional investors. The former president launched his brand-new company, Trump Media & & Technology Group, in October. He revealed plans for a brand-new messaging app called “Truth Social” to rival Twitter and the other social media platforms that prohibited him following the Jan. 6 insurrection at the U.S. Capitol.

Donald Trumps new social media business and its unique purpose acquisition company partner say the partner has arrangements for $1 billion in capital from institutional investors. The money would come from “a diverse group” of investors after the 2 business are combined, it said. He will get tens of millions in unique bonus shares if the combined company performs well, handing the previous president potentially billions of dollars in paper wealth.

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