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One billion is said to flow into Trump’s new online network

Former US President Donald Trump (2017-21) has found support from financially strong investors for his planned online network and an associated IPO. These wanted to provide one billion dollars (880 million euros), announced on Saturday the Trump Media html5-dom-document-internal-entity1-amp-end Technology Group (TMTG) and the partner company Digital World. Major online services have banned Trump for violating the rules.

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.

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