Economy

Trump raised $1 billion to launch a new social platform – Mondo

Trump Media and Technology Group (Tmtg) and partner company Digital World Acquisition have announced that some unspecified institutional investors have pledged $1 billion to start the project the billionaire plans to launch early next year. The Truth Social, after being banned from Twitter, Facebook and Youtube for its incendiary messages related to the Congressional attack. The amount will be in addition to the $293 million that Digital Word raised through an initial public offering in September. (ANSA) Trump’s social media company’s plan is to go public with a merger with World Acquisition, a Special Purpose Acquisition (Spac), that is, a company created with the sole purpose of acquiring and bringing in a private company. Stock Exchange: Shortens the time to sell shares to the public. The companies did not identify institutional investors in their statement, but said the money would come from a “diversified group” of investors after the merger.

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