Truth Media allows Trump’s trust to sell stock, Axios reports

Trump Media & Technology Group recently submitted documents to the U.S. Securities and Exchange Commission, marking a significant move by former President Donald Trump in the realm of media and technology.

The filing stated that the company plans to launch a social media platform called “TRUTH Social,” described as a platform that will embody a free speech-based social media platform that promotes the values of conservatism. This development comes after Trump was notably banned from mainstream social media platforms like Twitter and Facebook following the Capitol riot on January 6.

In addition to the social media platform, Trump Media & Technology Group also aims to launch a subscription video-on-demand service called “TMTG+.” The company stated that they envision TMTG+ as a content delivery platform that will feature conservative and pro-Trump programming for its subscribers.

Trump Media & Technology Group is seeking to raise funding in the financial markets for its ambitious projects. The filing indicated that the company is looking to raise $1 billion with the offering of its initial public stock, symbolized by the ticker “TRU.”

The move towards creating a social media platform aligns with Trump’s repeated criticisms of mainstream social media companies for what he perceives as biased censorship against conservative voices. By launching “TRUTH Social,” Trump seeks to provide a platform that upholds free speech and caters to a conservative user base.

The challenges for Trump Media & Technology Group lie in the competitive nature of the social media and technology industries. Established platforms like Facebook, Twitter, and YouTube dominate the market, making it difficult for new entrants to gain traction and compete with these giants. Moreover, the controversial nature of Trump’s presidency and his subsequent banning from mainstream platforms may also pose challenges in attracting a broad user base to “TRUTH Social.”

Despite these obstacles, the filing with the SEC signifies Trump’s determination to venture into the media and technology spheres on his terms. The success of “TRUTH Social” and TMTG+ remains to be seen, but it is evident that Trump Media & Technology Group is making bold moves to establish its presence in an industry dominated by established players.