Trump Media & Technology Group valued at more than $10 billion

by Joshua Perry

45th President Donald Trump shocked the investing world after Trump Media and Technology Group (TMTG), his new conservative media company, boasted a whopping value above $10 billion, according to Renaissance Capital.

This is not the first time TMTG has raised the eyebrows of investors, supporters, and critics this month.

After receiving a $1 billion investment in December, TMTG announced its partnership with Rumble, a cancel-free competitor to YouTube. Rumble is expected to deliver streaming and video services for TRUTH Social, Trump’s social media alternative designed to fight back against Facebook and Twitter.

In November, the 45th president launched an invite-only beta version of TRUTH Social, the first realized company under TMTG. The app is expected to be fully functioning for public use by spring 2022.

Trump has yet to release extensive plans regarding his new media venture, but he is working away at securing top talent to run the show. As the sitting chairman, Trump has tapped Rep. Devin Nunes, R-Calif., to become the Chief Executive Officer of TMTG. “Devin understands that we must stop the liberal media and Big Tech from destroying the freedoms that make America great,” said Trump.

Nunes will resign from office on January 1st, 2022 before assuming the role.

Before the reveal of the enormous valuation, Trump Media and Technology spiked the stock markets after merging with Digital World Acquisition Corporation in October. The publicly traded merger opened its first day at $12.73 before reaching a high of $58 and concluding the day at $45.50. The next day, the stock peaked 1,000 percent over its opening debut, reaching $166.64 and later ending at $94.20.

As the 2022 midterm elections approach, Trump is paving the way for conservatives to have their voices heard without fear of censorship, and laying the groundwork for his predicted 2024 presidential bid.

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