Truth is coming, and if recent fundraising figures are any indication of the might of the forthcoming social media platform, the online world could be in for a major paradigm shift.
The network, which was conjured by former President Donald Trump as a response to the rampant online censorship of conservative voices, will undoubtedly be a smash hit when it eventually arrives. And while the date for its inaugural truth to be posted has wavered a bit, there is no lack of support for the project.
Former President Trump’s social media group, Trump Media & Technology Group Corp. (TMTG), and its blank-check company announced on Saturday it had received a commitment of $1 billion from an unidentified “diverse group of institutional investors.”Advertisement - story continues below
TMTG and blank-check company Digital World Acquisition Corp. said that “subscription agreements for $1 billion in committed capital” would be received from an unknown group of investors once TMTG and Digital World are combined.
In October, Trump announced that he would be creating a social media network dubbed “Truth Social,” whose full launch is expected in the first quarter of 2022. The network has been advertised as a platform “that encourages open global conversation without discrimination on the basis of political ideology.”
Trump will undoubtedly rely heavily on Truth Social in the coming months, particularly as he begins to prepare for a likely 2024 reelection campaign.