Trump Media & Technology Group

Trump Media & Technology Group Corp. (TMTG) is an American media and technology company headquartered in Sarasota, Florida. Its principal operating asset is Truth Social, a social-media platform launched in 2022 and positioned as an alternative to mainstream networks such as Twitter, now known as X. The company has also proposed or pursued subscription streaming, financial products, exchange-traded funds, cryptocurrency and blockchain initiatives, and investments connected with energy technology. TMTG was incorporated in 2021 by Andy Litinsky and Wes Moss, former contestants on and producers associated with Donald Trump's television program The Apprentice. Its creation followed Trump's suspension from major social-media services after the January 6, 2021 attack on the United States Capitol. After an unsuccessful short-lived website called From the Desk of Donald J. Trump, Trump announced that his new media venture would develop a social network intended to serve users who viewed large technology platforms as politically restrictive. The company initially pursued a public listing through a merger with Digital World Acquisition Corp. (DWAC), a special-purpose acquisition company. The proposed transaction attracted substantial public attention, regulatory scrutiny and litigation. The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority examined communications and disclosures surrounding the SPAC's dealings with TMTG. In July 2023, the SEC announced fraud charges against DWAC and agreed to an $18 million civil penalty payable upon completion of the merger. Truth Social launched on Apple's iOS platform on February 21, 2022. The rollout experienced technical and staffing difficulties, and several senior technology and product personnel departed during the early months. TMTG later moved Truth Social's website and applications to infrastructure operated by Rumble under a technology and cloud-services relationship. A planned subscription streaming product, TMTG+, was discussed as part of the original business plan but is not established as a major operating product in the available reference material. DWAC shareholders approved the business combination on March 22, 2024, and the merger was completed later that month. The combined company began trading on Nasdaq under the symbol DJT. Donald Trump and entities associated with him hold a controlling or majority economic interest through the Donald J. Trump Revocable Trust. Trump transferred his shares to a trust controlled by his son Donald Trump Jr. in December 2024, according to the cited reference material. TMTG has remained closely associated with conservative and pro-Trump political audiences. That association is central to its differentiation, but it has also created recruitment, governance, regulatory and reputational challenges. The company has reported substantial losses relative to its advertising revenue, while its public valuation and share price have been highly sensitive to political events and investor sentiment. Its expansion strategy has increasingly emphasized financial services, digital assets, exchange-traded funds and other technology initiatives in addition to social media.

TMTG emerged in the political and technological aftermath of Donald Trump's January 2021 suspension from Twitter and other major platforms. Trump briefly promoted From the Desk of Donald J. Trump, a website intended to distribute his statements, but that project ended within weeks. TMTG was incorporated in February 2021, with Andy Litinsky and Wes Moss identified as its founders. The company subsequently announced plans for a social network and a broader media ecosystem. The route to public ownership was a merger with Digital World Acquisition Corp., a Nasdaq-listed SPAC formed in 2021. The transaction generated scrutiny because of questions about the timing of discussions, public statements made before the merger was formally completed, the backgrounds of parties connected to DWAC, and the adequacy of investor disclosures. DWAC raised private investment and entered into technology arrangements with Rumble, which supplied cloud infrastructure for Truth Social and was associated with the planned TMTG+ streaming service. The SEC and FINRA investigated the transaction, while subpoenas were issued to DWAC and TMTG in 2022. Truth Social launched on February 21, 2022. Its early operation was affected by technical difficulties, hiring challenges and the departure of senior technology and product executives. In April 2022, the service migrated its web and mobile applications to Rumble's cloud infrastructure. The platform's audience proposition centered on free expression and conservative political communication, with Donald Trump as its most prominent user and shareholder. Corporate governance and financing remained contentious. Several directors, including Trump, Donald Trump Jr., Kash Patel and Scott Glabe, left the board in June 2022, around the time regulatory and grand-jury subpoenas were issued; the departures were initially disputed and later supported by corporate filings. The merger vote was repeatedly delayed during 2022 and 2023. In 2023, reports also described investigations into an $8 million financing arrangement allegedly connected to Russian-linked parties. TMTG disputed reporting about the financing and pursued litigation against some media organizations. The SPAC combination finally received shareholder approval on March 22, 2024 and closed shortly afterward. TMTG became a public company trading under DJT. Its first public filings showed significant losses and relatively limited advertising revenue from Truth Social. The company also terminated its auditor, BF Borgers, in May 2024 amid regulatory requirements concerning the auditor. The stock experienced large price movements during 2024, including a steep decline from its March peak, a later recovery around the U.S. presidential election, and volatility halts on Election Day. In December 2024, Trump transferred nearly all of his shares to a trust controlled by Donald Trump Jr., an action described as intended to reduce conflicts of interest. TMTG later broadened its stated strategic interests beyond social media. These included Truth.Fi financial products, exchange-traded funds, blockchain and cryptocurrency projects, a proposed bitcoin treasury, and a reported transaction involving TAE Technologies, a fusion-energy company. The available reference material also describes continuing board and executive changes in 2026, including the appointment of Boris Epshteyn as chairman and Kevin McGurn as interim chief executive.

1. 2025Bitcoin treasury strategy announced

   TMTG announced a plan to raise capital for a corporate bitcoin treasury.

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2. 2024TMTG becomes publicly traded

   The DWAC merger was approved and completed in March, after which the combined company traded as DJT.

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3. 2022Truth Social launches

   TMTG launched Truth Social on iOS on February 21.

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4. 2021TMTG is incorporated

   Trump Media & Technology Group was incorporated in February, with Andy Litinsky and Wes Moss identified as founders.

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5. 2021TMTG announces DWAC merger

   The company announced a planned combination with Digital World Acquisition Corp. to create a publicly traded media and technology business.

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A conservative-oriented media and technology group built around Truth Social and marketed as an alternative to mainstream social-media and technology platforms.

• Truth SocialSocial-media platform2022

  Truth Social is TMTG's principal consumer product and a social network designed to provide an alternative to large mainstream platforms. It launched for iOS in February 2022 and later operated through web and mobile applications hosted on Rumble's cloud infrastructure. Its identity is closely linked to conservative political communication and Donald Trump's personal account, making the platform both a media product and a political-audience community.

• Truth.FiFinancial products2025

  Truth.Fi is the name used for TMTG's planned financial-services and investment-product expansion. The available reference material connects it with exchange-traded funds and themes such as American security, energy security, domestic industry and conservative-oriented investment positioning.

• Truth Social ETFsExchange-traded funds2025

  Reference material describes a group of proposed or launched exchange-traded funds associated with Truth Social and advised by Yorkville America Equities. The named funds cover security and defense, emerging technologies, American-themed companies, energy security and red-state real estate investment trusts.

• TMTG bitcoin treasuryDigital-asset treasury2025

  TMTG announced a corporate strategy centered on raising capital through equity and convertible bonds to purchase bitcoin. The initiative represents a proposed use of the company's public-market access and extends its positioning from media ownership into digital-asset finance.

• 2025Expand into digital assets and financial productsStrategy

  TMTG sought to broaden its business beyond social media.

  What changed. The company announced Truth.Fi initiatives, proposed ETFs and a bitcoin treasury plan.

  Aftermath. The available reference material does not establish the final scale or operating results of these initiatives.

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• 2022Launch Truth SocialProduct launch

  The platform was conceived as an alternative to mainstream social networks after Trump's suspension from major services.

  What changed. TMTG released Truth Social for iOS and subsequently supported web and mobile access.

  Aftermath. The launch encountered technical and staffing difficulties, and the service later migrated to Rumble's cloud infrastructure.

  • Twitter — Truth Social was publicly framed as a competitor and alternative to Twitter.
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• 2021Pursue a SPAC merger with DWACM&A

  TMTG sought a faster route to public markets than a conventional initial public offering.

  What changed. It entered into a merger agreement with Digital World Acquisition Corp.

  Aftermath. The transaction faced repeated delays, investigations and litigation before closing in March 2024.

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• 2023Alleged Russian-linked financing investigationControversy

  Reporting described an investigation into whether an $8 million financing arrangement involving entities connected to Russian-linked individuals raised money-laundering or disclosure concerns. TMTG disputed related reporting and pursued litigation against media organizations.

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• 2023SEC fraud charges involving DWACControversy

  The SEC charged DWAC with misleading investors over aspects of its communications and agreed to an $18 million civil penalty tied to completion of the merger.

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• 2022Regulatory subpoenas and board departuresControversy

  SEC, FINRA, a New York grand jury and DWAC received or issued subpoenas concerning the proposed transaction and related business practices. Several TMTG directors departed around the same period, creating a governance controversy.

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• 2025TMTG announces bitcoin treasury plan

  The company announced a plan to raise capital through stock and convertible debt to acquire bitcoin for a corporate treasury.

  Other
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• 2025TMTG reports proposed combination with TAE Technologies

  Reference material described a proposed merger with fusion-energy company TAE Technologies.

  M&A
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• 2024TMTG completes public-company merger

  DWAC shareholders approved the transaction in March, and the combined company began trading under the DJT ticker.

  M&A
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• 2022Truth Social launches

  TMTG released Truth Social for iOS as its principal social-media product.

  Product launch
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• 2021TMTG announces planned merger with Digital World Acquisition Corp.

  The proposed SPAC transaction was presented as the route for TMTG to become a publicly traded company and launch a social network positioned against Twitter.

  M&A
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1. Trump Media & Technology Group
2. Trump Media & Technology Group official website