The stock price of Truth Social’s parent company skyrocketed during the early hours of its first official day of trading Tuesday, with the price increasing by over 40%.
Shareholders of Digital World Acquisition Corporation (DWAC) voted to approve a merger with former President Donald Trump’s Trump Media and Technology Group (TMTG), the parent company of Truth Social, Friday, leading to Tuesday’s Wall Street debut. Trump received 79 million shares of stock worth over $3 billion, The Hill reported.
WATCH:
DWAC shares traded at $49.95 at Monday’s close, according to Yahoo Finance, while the new DJT symbol that replaced DWAC is trading at over $73 as of Tuesday morning, increasing the value of Trump’s holdings by over $1 billion. Trump could receive 40 million additional shares by the end of April based on the stock’s performance, New York Magazine reported.
Trump announced he would start the social media company in October 2021, nine months after being banned from Twitter and other social media sites in the wake of the Jan. 6, 2021, riot at the Capitol building.
Twitter reinstated Trump in November 2022, following an online poll by Elon Musk, who completed the acquisition of the social media site in October 2022.
Trump reportedly signed a contract requiring him to post original content to Truth Social, which is owned by TMTG, and not to repost to other social media sites for six hours, according to TechCrunch.
TMTG’s website states that a planned subscription-based streaming service known as TMTG+ would offer “access to non-woke entertainment, news, documentaries, podcasts, and more.”
A spokesperson for TMTG referred the Daily Caller News Foundation to a Tuesday morning statement by CEO Devin Nunes.
“We built this company to protect the American people’s voices and their freedom,” Nunes said. “Having transformed into a public company, Truth Social remains committed to maintaining and vehemently defending a digital space for free expression.”
All republished articles must include our logo, our reporter’s byline, and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.
DONATE TO BIZPAC REVIEW
Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!
- Police chief who groveled after discussing ‘East African crime’ panders to Somalis again - December 17, 2025
- Ilhan Omar whines about ICE operations in Minneapolis - December 17, 2025
- ‘It’s all bullsh*t’: Tim Walz goes on anti-Second Amendment rant - December 17, 2025
Comment
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. Thank you for partnering with us to maintain fruitful conversation.
BPR INSIDER COMMENTS
Scroll down for non-member comments or join our insider conversations by becoming a member. We'd love to have you!
