US EditionTruth Social parent explores spinning off social media platform
- On Friday, Trump Media & Technology Group said it is exploring a spin-off of Truth Social into a separate, publicly traded company as it advances a $6 billion merger with TAE Technologies expected mid-year.
- Facing weak revenue, Trump Media & Technology Group reported $3.6 million in 2024 and accumulated a $2 billion bitcoin reserve earlier this year.
- The platform depends on President Donald Trump, who has 11.8 million subscribers, but only 359,000 active users last May compared with roughly 600 million on X.
- The company says the spinoff would follow the TAE merger, with shares distributed to current Trump Media shareholders, and Truth Social would then merge with Texas Ventures III.
- President Trump continues to own approximately 59 percent of Trump Media shares, worth about $1.63 billion, as the stock dropped roughly 18% this year to $11.02 on Friday.
20 Articles
20 Articles
Truth Social parent explores spinning off social media platform
Trump Media & Technology Group said on Friday it is in discussions with TAE Technologies and Texas Ventures Acquisition III about spinning off businesses including Truth Social into a new publicly traded company.Read MoreThe post Truth Social parent explores spinning off social media platform first appeared on The Who Dat Daily.The post Truth Social parent explores spinning off social media platform appeared first on The Who Dat Daily.
Trump Media Explores Spinning Off Truth Social
President Trump’s media company is considering spinning off its money-losing social media platform, Truth Social, into a separate publicly-traded shell company company, it said on Friday. The plan would involve the president’s company, Trump Media & Technology Group, to merge Truth Social with a recently formed, cash-rich special purpose acquisition company. The announcement of the possible spin off came just months after Trump Media said it wou…
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