Donald Trump says new social media company raised $1 billion | science and technology news

Donald Trump’s social media company said it has agreements in place to raise $1 billion from investors before listing on the US stock market.

Trump Media and Technology Group, which will be listed on Nasdaq, plans to launch a new social media platform next year called social truth.

He criticized the former US President Twitter And Facebook social networking site to ban him due to concerns that his social media activity instigated January 6 attack on the Capitol Where the victory of rival Joe Biden was confirmed in the elections.

Mr Trump It had previously accused those platforms of censorship and political discrimination against conservatives, and he repeated this accusation along with funding news.

After the ban, he launched a blog « From The Desk of Donald J. Trump » – initially calling it a platform – but shut it down less than a month later.

One of his aide, Jason Miller, told CNBC that the page « was just an aid to the broader efforts we’re in and working on, » referring to the launch of the new social media platform.

In a press release announcing the funding, Trump said that « a billion dollars sends an important message to the big tech companies. »

« As our balance sheet expands, the Trump Media and Technology Group will be in a stronger position to fight against the tyranny of the big tech companies, » he added.

Reuters first reported that the former president’s success in attracting financial backers was due to his personal and political brand.

No public details are available yet on who the investors are, nor the new company’s financial details, and the merger deal with Digital World Acquisition Corp’s alleged blank check company has not been closed, Bloomberg reported.

Reuters reported that US Senator Elizabeth Warren has asked Securities and Exchange Commission (SEC) Chairman Gary Gensler to investigate the planned merger for possible violations of disclosure-related securities laws.

The Securities and Exchange Commission declined to comment on whether it plans any action.

It comes as Trump continues to solicit donations, provoking him that he may run again in 2024 but without making any formal pledge – potentially limiting his fundraising activities.

Truth Social has been promoted as allowing conservatives freedom of expression without the program modifying their messages « on the basis of political ideology ».

Trump continued to claim, without evidence, that the election of his opponent, Mr. Biden, was rigged.