Trump Media & Technology Group Corp. (TMTG) is a U.S.-based media and technology company headquartered in Sarasota, Florida. With roots dating back to early 2021, TMTG has become best known as the parent of the social media platform Truth Social and the “America First” oriented media ecosystem.
Origins and Corporate Structure
Incorporation & Founding: TMTG was founded in February 2021 by Andy Litinsky and Wes Moss.
Going Public: In March 2024, TMTG went public by merging with Digital World Acquisition Corp. (DWAC), a SPAC (special-purpose acquisition company), and began trading on Nasdaq under the ticker DJT.
Ownership & Leadership: Majority-owned by the Donald J. Trump Revocable Trust, the company is helmed by CEO, President, and Chairman Devin Nunes, with a board including former administration officials.
Key Products and Ecosystem
Truth Social: Launched February 21, 2022, Truth Social is an “alt-tech” platform positioned as an alternative to mainstream platforms like Twitter. It uses Mastodon as its backend. As of January 2025, the platform had around 6.3 million monthly active users.
Truth+ Streaming Service: TMTG has developed a custom content-delivery network (CDN) and rolled out linear TV streaming on web, iOS, and Android platforms via Truth+, offering Picture-in-Picture (PiP) and other advanced features.
Truth.Fi (FinTech Arm): In early 2025, TMTG launched Truth.Fi, a fintech brand offering financial services such as separately managed accounts (SMAs) and ETFs, aligning with its ‘America First’ philosophy.
Financial Performance & Strategy
Losses and Revenue: The company’s first public quarter (Q1 2024) saw a net loss of $327.6 million, largely due to non-cash merger-related expenses. In 2023, TMTG lost $58 million and generated only about $4 million in revenue.
Capital & Funding:
Raised $1 billion in PIPE (private investments in public equity) to support growth and launch ambitions.
Secured entry into Russell 1000 and 3000 indexes in mid2024 and raised additional capital via warrants.
Strategic Initiatives:
Established a strategic acquisition fund in 2025, aiming to pursue mergers and acquisitions within the “America First Economy.”
Announced plans for a $2.5 billion Bitcoin Treasury, potentially making it one of the largest corporate holders of Bitcoin.
Legal & Regulatory Headlines
The SPAC process drew scrutiny from the SEC and other regulatory bodies, with investigations into pre-merger fundraising communications.
Internal disputes led to multiple lawsuits—particularly from co-founders (UAV), DWAC, and other parties over share dilution and stock rights.
Separately, TMTG is involved in litigation related to a subpoena involving SEC Chair Paul Atkins and the SPAC sponsor Patrick Orlando—raising concerns about conflicts of interest.
Looking Ahead
TMTG presents a distinct fusion of political messaging, niche social media, streaming services, and fintech ambitions—all wrapped within a highly polarized narrative of free speech and anti-censorship. Though its business model struggles with revenues and regulatory scrutiny, the creation of its own infrastructure (like a CDN), and ventures into Bitcoin and acquisition strategy, highlight its intent to build a tightly integrated media-technology ecosystem.