Exactly who the investors behind the billion dollar are was not stated in the announcement. The money would be added to the $ 293 million that Digital World had already made in September when it went public in September, the two companies said.
Major online platforms such as Facebook, Twitter and Youtube have banned Trump after the storming of the Capitol on January 6th by radical supporters incited by the then president. At that time, five people were killed because Trump refused to accept being voted out. The 75-year-old has announced his own platform as an alternative to the “tyranny” of the big technology corporations. It will operate under the name “Truth Social” and will be launched at the beginning of next year. Despite being voted out of office after one term, Trump is still very popular with the conservative base and is toying with a renewed presidential candidacy in 2024.
Digital World Acquisition Corp is a so-called Special Purpose Acquisition Company (SPAC). As a SPAC, it is, so to speak, an empty shell that is already traded on the stock exchange. The use of such stock exchange vehicles is an increasingly popular way of going to Wall Street in the United States.