Overview

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.

History

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.

2025
Bitcoin treasury strategy announced
[1]Trump Media & Technology Groupen.wikipedia.org
TMTG announced a plan to raise capital for a corporate bitcoin treasury.
2024
TMTG becomes publicly traded
[1]Trump Media & Technology Groupen.wikipedia.org
The DWAC merger was approved and completed in March, after which the combined company traded as DJT.
2022
Truth Social launches
[1]Trump Media & Technology Groupen.wikipedia.org
TMTG launched Truth Social on iOS on February 21.
2021
TMTG is incorporated
[1]Trump Media & Technology Groupen.wikipedia.org
Trump Media & Technology Group was incorporated in February, with Andy Litinsky and Wes Moss identified as founders.
2021
TMTG announces DWAC merger
[1]Trump Media & Technology Groupen.wikipedia.org
The company announced a planned combination with Digital World Acquisition Corp. to create a publicly traded media and technology business.

Products and positioning

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

Social-media platform · 2022
Truth Social
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.
Financial products · 2025
Truth.Fi
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.
Exchange-traded funds · 2025
Truth Social ETFs
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.
Digital-asset treasury · 2025
TMTG bitcoin treasury
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.

Controversies

2026
Freedom of the Press Foundation and The Intercept sue Trump Media over Truth API early-access service
The Freedom of the Press Foundation and news outlet The Intercept filed a lawsuit in New York federal court against Trump Media and Technology Group over its Truth API service, which charges Wall Street firms $60,000 to $100,000 per month for early access to market-moving Truth Social posts. The plaintiffs allege the service violates First Amendment equal-access rights and Fifth Amendment prohibitions on unreasonable conditions for government resources, and seek to bar the White House from posting official government announcements exclusively on Truth Social.
Source
2023
Alleged Russian-linked financing investigation
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.
Source
2023
SEC fraud charges involving DWAC
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.
Source
2022
Regulatory subpoenas and board departures
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.
Source

Brand decisions

2025
Expand into digital assets and financial productsStrategy
Background
TMTG sought to broaden its business beyond social media.
Action taken
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.
Source
2022
Launch Truth SocialProduct launch
Background
The platform was conceived as an alternative to mainstream social networks after Trump's suspension from major services.
Action taken
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.
Source
2021
Pursue a SPAC merger with DWACM&A
Background
TMTG sought a faster route to public markets than a conventional initial public offering.
Action taken
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.
Source

Recent events

2026-08-12
Trump Media sued over paid early access to Trump's policy posts on Truth Social[4]Freedom of the Press Foundation and The Intercept sue Trump Media over Truth API early-access servicebusiness-standard.com
Reported: 2026-08-13
President Donald Trump was sued in federal court on Wednesday over a paid subscription service, Truth API, that gives Wall Street firms early exclusive access to his policy posts on Truth Social for as much as USD 100,000 a month. The plaintiffs, including the Freedom of the Press Foundation and The Intercept, allege the arrangement violates the First and Fifth Amendments and ask the court to force Trump Media & Technology to end the paid service and its exclusive access deal. Trump Media said selling fast access to traders is common in its industry and accused the plaintiffs of trying to weaponize the courts.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026-08-12
Freedom of the Press Foundation and The Intercept sue Trump Media over Truth API early-access service[3]Freedom of the Press Foundation and The Intercept sue Trump Media over Truth API early-access servicefoxnews.com
Reported: 2026-08-15
The Freedom of the Press Foundation and news outlet The Intercept filed a lawsuit in New York federal court on Wednesday against Trump Media and Technology Group over its Truth API service, which charges Wall Street firms $60,000 to $100,000 per month for early access to market-moving Truth Social posts. The plaintiffs allege the service violates First Amendment equal-access rights and Fifth Amendment prohibitions on unreasonable conditions for government resources, and seek to bar the White House from posting official government announcements exclusively on Truth Social.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2021-12-15
TMTG and Rumble agree to provide services for Truth Social[5]TMTG与Rumble达成协议为Truth Social提供服务newsweek.com
Reported: 2021-12-15
Trump Media & Technology Group (TMTG) announced a technology and cloud services agreement with Rumble that includes video and streaming services for Truth Social. Rumble was also in negotiations to provide infrastructure and video delivery services for TMTG+.
2021-10-21
Trump announces TRUTH Social platform launch[6]特朗普宣布推出TRUTH Social平台greekreporter.com
Reported: 2021-10-21
Donald Trump announced the launch of TRUTH Social, a social media platform from Trump Media & Technology Group. The article says the app was available for pre-order and that a beta version was planned for invited guests in November 2021, with a nationwide rollout expected in the first quarter of 2022.
2021-10-21
Trump Media & Technology Group announces merger with Digital World Acquisition[7]特朗普媒体与科技集团宣布与 Digital World Acquisition 合并brisbanetimes.com.au
Reported: 2021-10-21
Trump Media & Technology Group announced that it had been created through a merger with Digital World Acquisition and said it sought to become a publicly listed company. Donald Trump Jr. said his father had signed a definitive merger agreement to form the group and TRUTH Social.