(AbsoluteNews.com) – Former President Donald Trump was permanently banned from all popular social media platforms earlier this year. Ten months later, he’s set to start his own tech company and it’s already reportedly worth billions.
In February 2021, shortly after the former president left office, he formed the Trump Media & Technology Group (TMTG). Although people cannot yet invest in the company, they’re able to buy shares of Digital World Acquisition Corp., the special-purpose acquisition company with which it will soon merge. As soon as Trump made the announcement about the merger, investors started snatching up stocks, sending the price of shares soaring from $10 to $60 each.
On November 17, Forbes reported the company will be worth about $10 billion a month after the merger, even if the price of the shares drops to $30.
The Trump Media and Technology Group hasn’t done much yet. Investors still seem to think it’s worth about $10 billion — four times as much as everything else Donald Trump owns. https://t.co/CNoZhQi2Up
— Dan Alexander (@DanAlexander21) November 17, 2021
For a company so new, that’s pretty impressive, but it isn’t much of a surprise. The American people have expressed contempt for traditional social media companies. Big Tech has developed a reputation for censorship over the last few years angering Americans who want to freely express their opinions. Trump has promised his platform will be one where the First Amendment is valued.
According to Forbes, if one-third of Trump’s former Twitter followers move to the new platform and half of those people use the site every day, his latest business venture will be wildly successful.
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