Photo: Alamy
Truth Social’s parent company, Trump Media & Technology Group, filed a 10-K on Monday with the Securities and Exchange Commission (SEC), revealing impressive details about Trump’s media company, which went public in late March.
The 10-K paperwork revealed that Truth Social “has no debt and over $200 million in the bank, opening numerous possibilities for expanding and enhancing our platform,” according to TMTG CEO Devin Nunes.
He continued, “We intend to take full advantage of these opportunities to make Truth Social the quintessential free-speech platform for the American people.”
This report comes just after TMTG merged with its business partner, Digital World Acquisition Corp. (DWAC), resulting in a long-awaited business combination that allowed Trump’s company to finally go public and make its debut on the Nasdaq exchange.
As reported by RSBN, TMTG, with the stock ticker “DJT,” surged up to around a $9 billion value upon its initial entrance on Nasdaq last week, with share prices spiking rapidly as supporters and investors scrambled to cash in on Trump’s latest business venture.
The business move has not only boosted the value of TMTG and Truth Social, but it has also massively boosted the net worth of President Donald Trump. In fact, Trump’s net worth surpassed that of businessman Mark Cuban and infamous billionaire and political donor George Soros last week, according to the Bloomberg Billionaire Index.
Truth Social, launched in early 2022, has served as the president’s uncensored platform for speaking to the American people, providing a free-speech alternative to sites like Facebook and Instagram.
DWAC CEO Eric Swider stated upon the release of the company’s 10-K report, “DWAC overcame several challenges last year to consummate our merger with TMTG and emerge as a united, debt-free, publicly traded company. Looking toward the future, TMTG is poised to rapidly move our business plans forward.”