Trump’s TRUTH Social has strong financial backing
America ı By Jackie Allen
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Unnamed investors give strong financial backing
The $1 billion is set to be raised in private investment in public equity (PIPE) transactions. In a joint statement, Trump Media and DWAC claim the money comes from "a diverse group of institutional investors." Many Wall Street firms, such as mutual funds, and private equity firms were not interested in the investment PIPE. There are still those reluctant to get on board with Trump due to the January 6th fiasco. Political obstacles abound with Democrat Senator Elizabeth Warren is demanding that SEC Chairman Gary Gensler investigate the merger. According to Reuters primary participants were “hedge funds, family offices, and high net-worth individuals. Family offices manage the wealth of the very rich and their kin.” "As our balance sheet expands, Trump Media & Technology Group will be in a stronger position to fight back against the tyranny of Big Tech," Trump said. When Trump was removed from all his social media accounts he had 89 million followers on Twitter. And 33 million on Facebook, along with 24.5 million on Instagram. Trump is optimistic that many of those blocked followers will be future customers for the platform.
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