A man looks at a screen displaying trading information about Trump Media & Technology Group outside the Nasdaq Market site in New York City on Tuesday. Former president Donald Trump’s social media start-up surged Tuesday in its first day of trading as a public company, a stock-market debut that helped deliver the Republican
Trump owns 60 percent of Trump Media, or roughly 78 million shares, a stake now worth more than $4.6 billion. The merger unlocked for Trump Media more than $300 million that Digital World raised from investors in 2021 and which the company has said it intends to use toward expanding the online infrastructure supporting its main source of revenue, ads on Truth Social.The company, however, is far smaller than its social media peers, which also sell ads. Truth Social’s most popular user,Truth Social had 3.7 million desktop and mobile visits in the U.S.
Trump has invested no money in the company, which was launched in early 2021 by Andy Litinsky and Wes Moss, two former contestants on Trump’s television show “The Apprentice.” The men are now& Casino Resorts. That company lost more than $1 billion during Trump’s time as chairman and filed for bankruptcy in 2004, The Post
Trump has used the occasion of the public launch of his company to draw a comparison between his legal difficulties and the Christian commemoration of Holy Week, which ends Sunday with the celebration of Easter. On Monday, Trump posted a “beautiful”he said he received from a supporter, which said, “It’s ironic that Jesus walked through His greatest persecution the very week they are trying to steal your property from you.
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