Trump's TMTG Approves Investment Fund for Media and Tech Acquisitions

The board of Trump Media & Technology Group (TMTG) has approved the establishment of an investment fund to explore potential acquisitions, according to sources familiar with the matter. The move comes as the company, founded by former President Donald Trump, seeks to expand its media and technology footprint.

TMTG, which was launched in October 2021, has been focused on building a social media platform, Truth Social, as an alternative to mainstream social media platforms. The company has also been exploring other media and technology ventures, including a planned merger with a special purpose acquisition company (SPAC) called Digital World Acquisition Corp.

The investment fund, which is expected to be managed by TMTG's board, will allow the company to evaluate and pursue strategic acquisitions that align with its business objectives. The fund's size and specific investment criteria have not been disclosed, but sources indicate that it will be used to support TMTG's growth and expansion plans.

TMTG's board, which includes several prominent figures from the Trump administration and the business world, has been actively involved in the company's strategic direction. The board's approval of the investment fund underscores TMTG's commitment to exploring new opportunities and expanding its reach in the media and technology sectors.

The company's founder, former President Donald Trump, has a roughly 52% stake in TMTG, which he has placed in a revocable trust. Trump has been actively involved in the company's development and has expressed his vision for TMTG to become a major player in the media and technology landscape.

The establishment of the investment fund comes at a time when TMTG is facing regulatory scrutiny and legal challenges related to its planned merger with Digital World Acquisition Corp. The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have been investigating the merger, and TMTG has faced lawsuits from shareholders alleging that the company has not disclosed all relevant information about the merger.

Despite these challenges, TMTG remains focused on its growth and expansion plans. The company has been working to launch Truth Social, its social media platform, and has been exploring other opportunities to expand its media and technology footprint. The establishment of the investment fund is a further indication of TMTG's commitment to pursuing strategic acquisitions and expanding its reach in the media and technology sectors.