Former President Donald Trump dropped a bomb about his social media group on Saturday when he revealed that investors have agreed to invest $1 billion in it.
Trump announced that unnamed investors will turn into investments once the blank check group Digital World Acquisition Corp combines with his social media group known as Trump Media & Technology Group Corp. This is the group that is planning to launch the platform TRUTH Social next year.
“$1 billion sends an important message to Big Tech that censorship and political discrimination must end,” said Trump, who acts as chairman of the group, according to The Epoch Times.
“America is ready for TRUTH Social, a platform that will not discriminate on the basis of political ideology,” he continued, according to The Hill. “As our balance sheet expands, TMTG will be in a stronger position to fight back against the tyranny of Big Tech,”
While no names of investors were released, they were described as “a diverse group.”
“Our focus on delivering public shareholder value drives our decision-making, and by accepting these commitments for a strategic infusion of growth capital, we believe the combined company can grow on an incredibly strong foundation,” Patrick Orlando, chairman of Digital World, added.
In the wake of the Capitol riot earlier this year, Trump was banned from Twitter, Facebook, and other social media platforms. Many think this is a prime example of the censorship conservatives face from Big Tech social media companies every day.
A company presentation states that the goal of the Trump Media & Technology Group Corp. is to become “a media powerhouse to rival the liberal media consortium and fight back against the ‘Big Tech’ companies of Silicon Valley.”
“If Big Tech can censor the president of the United States, they can censor anyone,” the presentation continued.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech,” Trump said in a statement announcing his new social media platform back in October, according to The Washington Examiner.
“We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced,” he continued. “This is unacceptable.”
Former Trump spokesman Jason Miller was quick to congratulate him for doing this.
“Congratulations to President Trump for re-entering the social media fray!” Miller said. “Now Facebook and Twitter will lose even more market share. President Trump has always been a great deal-maker, but we just couldn’t come to terms on a deal. And get ready for the new platform features GETTR has on the way: live-streaming, GVision short videos, and our GETTR Pay payments system capabilities. Exciting new additions that will provide our global customer base with an even better user experience. Let the downloads begin!”