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Trump's Media Empire Gets $450M Boost

Coin WorldWednesday, Feb 19, 2025 6:16 pm ET

1min read

Trump Media & Technology Group (TMTG), the media company founded by former U.S. President Donald Trump, has received a significant cash infusion following the sale of shares to a small financial firm based in New Jersey. The transaction, valued at $450 million, has provided more than half of TMTG's current cash on hand.

In December 2022, President Trump placed his approximately 114 million shares of TMTG in a revocable trust, with control handed over to his son, Donald Trump Jr., and a member of the company's board. This move allowed for the shares to be sold without direct involvement from the former president.

The sale of these shares to the New Jersey-based financial firm has provided TMTG with a substantial amount of capital, which is expected to be used for the company's ongoing operations and expansion plans. The transaction highlights the continued interest in and support for Trump's media ventures, despite the political landscape and ongoing legal challenges.

The financial firm that purchased the shares has not been identified, and the terms of the agreement have not been disclosed. However, the sale underscores the potential value and appeal of Trump's media empire, which includes the Truth Social platform and other media outlets.

The cash infusion comes at a critical time for TMTG, as the company continues to navigate the competitive landscape of social media and digital content. With the additional capital, TMTG is well-positioned to invest in its platforms, expand its user base, and potentially explore new opportunities in the media and technology sectors.

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