Trump media partner says it has lined up $1B in capital

[Omaha Steve]

Source: AP

PALM BEACH, Florida (AP) — Donald Trump’s new social media company and its special purpose acquisition company partner say the partner has agreements for $1 billion in capital from institutional investors.

The former president launched his new company, Trump Media & Technology Group, in October. He unveiled plans for a new messaging app called “Truth Social” to rival Twitter and the other social media platforms that banned him following the Jan. 6 insurrection at the U.S. Capitol.

TMTG’s plan is to become a publicly listed company through a merger with the publicly traded Digital World Acquisition Corp., a special purpose acquisition company whose sole purpose is to acquire a private company and take it public.

The institutional investors were not identified in a press release issued Saturday by Trump Media and Digital World. The money would come from “a diverse group” of investors after the two companies are combined, it said.



FILE - In this Dec. 31, 2020, file photo, President Donald Trump arrives on the South Lawn of the White House, in Washington. Trump's first post-White House book will be, like so much else about him, a departure from other former presidents. “Our Journey Together” is scheduled for Dec. 7, 2021, but not through a traditional New York publisher. (AP Photo/Evan Vucci, File)


Read more: https://apnews.com/article/donald-trump-technology-business-media-social-media-51cb0cf43864875390f2cec958273e2a

[Floyd R. Turbo]

1. 💸💸💸💸💸💸💸💸💸💸💸💸💸💸💸💸💸❗️

[NCjack]

2. Trump's new crop of suckers.

[Mr.Bill]

3. 100% Bullshit.

Anyone who believes a word of it must have just landed on earth yesterday.

[OrangeJoe]

28. Another lie

He hasn't lined up anywhere near this amount of money. The few million he has grifted from these losers will be pissed away soon enough and he'll go back to the trough.

[monkeyman1]

29. THE GREAT BULL-SHIT FACTORY is at it again !!! buyer's remorse coming up !!!

[Grins]

39. Why invest in a company 70% of your potential users HATE your management?

Investing 101.

This is bullshit.

[keithbvadu2]

4. Build it up fast, including some fancy accounting gimmicks, cash out quickly, and so long suckers.

Build it up fast, including some fancy accounting gimmicks, cash out quickly, and so long suckers.

[True Blue American]

48. Just like his College.

I do not believe anyone has that much. Just like his properties, depending if he is paying taxes or trying to borrow money. Up and down. Trump is hurting for funds.

[abqtommy]

5. TFG's partners crow about their "capital" but I call it "filthy lucre"* and hope that they

all choke on it.

*filthy lucre:
Money, in the sense of being a product or source of greed. The phrase is Biblical in origin, and the word "lucre" comes from the Latin word lucrum, meaning "profit."

https://idioms.thefreedictionary.com/filthy+lucre

[Mr.Bill]

6. In Silicon Valley one billion will buy

you a six-momth old start-up that has created around 100 million in debt, has zero income so far and is likely called Tube Socks.com.

[3825-87867]

7. And why don't rich, mega donor Democrats and Democratic Corps do the same?

Because no Republican Administration or Congress has ever hurt or adversely affected their business.

Why fight something that doesn't affect you?

[paleotn]

8. Computer says no.....

[Carlitos Brigante]

9. Why short change their own bullshit? Just go with a "gazillion

dollars". If you're gonna slather it, go all the way.

[Justice matters.]

10. Make sure Agent Mike will watch the orange terrorist's acc. for incitments to violence...

AND for all the other forthcoming potential crimes. Nuf' said.

[DanieRains]

11. It Cost $$$$ To Spread Lies On A TFG Scale

$1Bn won't come close....

[Roy Rolling]

12. When can I go short?

I’m ready to sell before the MAGATs want their money back.

[Botany]

13. In other words; So no real publisher wanted to touch TFG's ghost written lie filled book

“Our Journey Together” is scheduled for Dec. 7, 2021, but not through a traditional New York publisher."

Did his last attempted at trying to launch his own social media platform/web site get so few followers that
he dumped it? I think some food recipe site on the same whatever get 100 thousand more followers.

But not to worry plenty of tickets to the Donald Trump Bill O'Rielly show tomorrow in FL.

https://www.ticketnetwork.com/tickets/4709942/the-history-tour-donald-trump-bill-oreilly-tickets-sun-dec-12-2021-amway-center

[leftieNanner]

53. Plus, if he self publishes

He gets to keep a lot more of the $$$.

Any top level New York publishers won't give him as much.

[Botany]

54. Look to see some right wing front group to buy up a bunch of copies so "they" can say it is a best..

.... seller. I remember seeing a Sarah Palin book on the 99 cent table.

[monkeyman1]

14. Another excuse for " Bankruptcy. " as in casinos " ?

people never learn !! like they say, sucker born every minute !!

[Botany]

15. Ah yes! Step right up and I'll get you into a really hot stock even before it is traded.

[DFW]

16. The main investors are probably an internation consortium

From France, Voyou Capitaux
From Germany, Gauner & Betrueger, GmbH & Co KG
From the UK, I. M. Penniless, Ltd.
From Italy, G. Nonhoniente
From Mexico, Inversiones Notengonada
All have the enthusiastic backing of Nigerian Royalty, Prince Ugotmoni Senditumi

All are looking for partners to put up amounts equal to their pledges, which, they have all promised, are in the mail.

[slumcamper]

19. Absolutely. You nailed it.

[DFW]

20. His Highness would gladly pay you Tuesday

For a fully fueled Gulfstream today.......

[monkeyman1]

23. didn't see anything that start's with a " R" ?

[Bernardo de La Paz]

33. After he grifts them, they'll say Owata Nas Siam. . . .nt

[DFW]

42. It seals the deal

That traditional Algonquin saying…

[True Blue American]

50. And DeJoy

Is promising to speed them up.

[slumcamper]

17. Private finance & international investors (Russia???)--don't be so dismissive. n/t

[nakocal]

18. Diverse group of investors is slang for Russian Oligarch

[DENVERPOPS]

34. My thoughts exactly

with a bunch of Chinese oligarchs included.........

The Chinese and Russians can't agree on much, but they certainly agree on joining up with each other to destroy one of the world's superpower nations.....

Maybe now when he brags about being a billionaire it will actually be true.....LOL

[louis-t]

21. Fools and their money.....

[jpak]

22. They'll lose their shirts

Yup

[bluestarone]

24. putin probably told them

Russia has your back! What ever you need let us know.

[monkeyman1]

25. might lose their jockey short's too !!

[BlueIdaho]

26. More Bullshit from TFG nt.

[Larissa]

27. So it appears that suckers are still born every minute

Watch your wallets!

[Eugene]

30. A SPAC-based stock offering for a largly opaque Trump-associated business,

and the visible part involves the dodgy rebadging of someone else's product as their own. (They just settled with the Mastodon project after a lawsuit threat.)

They claim to have raised $1 billion. Sure, like MF45 claimed to be worth $10 billion.

Unless one wants to score points in Trumpworld, no sane person will go near such an obvious scam.

[yaesu]

31. More BS disguised as news that has no business on DU let alone breaking news

lets quit making the flushed turd relevant on this site.

[monkeyman1]

37. It's more fun to poke at x-prez cow patty !

[ancianita]

55. THANK YOU

Obsessing with tfg train wreck saps our focus, lets him live rent free in our heads and validates grift as politics.



We are better than this.

[Bernardo de La Paz]

32. Gonna say fuckyouall and launch Jan 6, 2022? There was a trial run in October, I think it was. nt

[LiberalFighter]

35. How long before it goes bankrupt?

And how many of the "investors" are Russians?

[JohnnyRingo]

36. Unworkable format.

"Truth Social" seems to imply anyone is safe to make true statements, no matter how incendiary. Nobody gets banned as long as they post the truth... as moderators see it.

There are a lot of uncomfortable truths out there that Trump isn't gonna want on his site. On the other hand, conspiracy theories may run rampant at first if it's flattering, regardless the truth. Soon it will be out of control.

Swatting away unwanted ideas and comments will be an exhausting job, and that doesn't even take into consideration the army of trolls who just enjoy throwing folding chairs.

[tarheelsunc]

46. This is about anything other than the "Truth".

They put in their ToS that you can't say anything negative about Trump or the platform itself. Sort of blows up the whole premise.

[JohnnyRingo]

47. Positive truths about Trump?

Sounds like what he's really building is an internet Magic Mirror that reflects upon him the image of a cross between Abraham Lincoln and Conan The Barbarian.

I imagine a good number will show up initially to shine his shoes, but that would have to get old fast. Then again, people don't tire of exalting Jesus so he can hope.

[kaotikross]

38. If there's one investment I'd be comfortable with

it's a social media company whose very first post was a hacked one by a fake account of it's Dear Leader of the classic "Pig Poop Balls".

[C Moon]

40. Do we really need that fat ass traitor plastered on DU?

[monkeyman1]

41. nope ! don't worry, not using his money ,just other people's!

[twodogsbarking]

43. Hackers unite.

[SWBTATTReg]

44. Would anybody, if sane (or insane in this case) ever invest money w/ a guy who's

so willingly declared bankruptcy so many times? I'd think that Banks, Insurance companies, and other lending institutions would balk before walking into another deal w/ this guy, especially when he's got notes all coming due in the next couple of years, some pretty hefty amounts too.

Trump owes US$447 million as part of his partnership with Vornado Realty …
The bond market: US$257 million in loans taken against several of the most …
Trump owes up to US$340 million to Deutsche Bank. Trump’s biggest bank …
Trump has at least US$25 million in debt with four small banks and one asset …
See full list on financialpost.com
Estimated Reading Time: 8 mins

Note on how long it'll take to read all about djt's debts (8 minutes)...and this isn't including those debts owned to cities etc. for the election process (still owed), and those debts possibly incurred by the settlement of those sexual abuse cases that keep dogging his steps.

[pfitz59]

45. I foresee another "Trump Univerisity" style lawsuit

Nothing good will come of this

[True Blue American]

49. Leonard Pitts Jr.

Has become Trump’s best friend. He wants to meet me but first I give a donation.

https://www.miamiherald.com/opinion/opn-columns-blogs/leonard-pitts-jr/article256302497.html

[BradBo]

51. "Truth Social" will go bankrupt within a few months. Can't wait to constitute.

When they try to survive Trump will turn on it.

[EarthFirst]

52. Most likely it was 300 million...

…twenty or so of which was skimmed off the top.

[BadGimp]

56. By going to the public markets for funding they open themselves up to legal disclosure requirements

When they make claims publically about their mission and then turn around and vio;ate their own policies for purely political reasons things could get dicey.