Trump Venture Seeks $1B Hedge-Fund Backing for Social-Media Plan

The new social-media venture from former President Donald Trump is looking to raise up to $1 billion by selling shares to hedge funds, according to a report.

Trump Media & Technology Group is already in line to receive $293 million if its deal to debut publicly through a SPAC merger with Digital World Acquisition  (DWAC)  goes through.

But Trump Media is now seeking to raise an additional $1 billion at a valuation of close to $3 billion, sources told Reuters. 

Digital World shares at last check jumped 7.9% to $5.


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