Former President Donald Trump announced that his new social media startup had received a $1 billion commitment from an anonymous “diverse group of institutional investors.”
Trump has been hard at work pioneering “Truth Social,” which will be going live sometime in early 2022.
Trump’s social media platform hopes to compete with more mainstream social media platforms without the draconian content regulation.
Trump issued a statement saying, “$1 billion sends an important message to Big Tech that censorship and political discrimination must end. America is ready for TRUTH Social, a platform that will not discriminate on the basis of political ideology. As our balance sheet expands, TMTG will be in a stronger position to fight back against the tyranny of Big Tech.”
The former Presidents foray into the social media world was prompted by the campaign by Big Tech companies to silence Trump and his conservative message.
Now with a significant war chest to work with, Truth Social will be a force to be reckoned with when it goes live. This is great news for the online world that desperately needs new alternatives to platforms like Twitter and Facebook.
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