Trump Media & Technology Expands into Finance and Fintech

By Tamara Parker • Friday, February 21 10:21 • Permanent Link

The Trump Media and Technology Group Corp. (TMTG) has announced plans to expand its operations through mergers, acquisitions, and partnerships, with a focus on the "America first economy." The company's CEO and chairman, Devin Nunes, highlighted the aim to grow robustly with strategic partners, signaling a move into finance and other industries.

TMTG recently launched its fintech and financial sectors brand, truth.fi, which will include customized exchange-traded funds (ETFs) and separately managed accounts (SMAs). As part of its financial services and fintech strategy, the company plans to invest up to $250 million, to be custodied by Charles Schwab, in developing the SMAs.

The company operates Truth Social, a social media platform aimed at providing a safe harbor for free expression amid increasing censorship by big tech corporations, and Truth+, a family-friendly live TV channels and on-demand content streaming platform.

This move signifies TMTG's intention to become a holding company with largely autonomous subsidiaries in various industries, signaling a significant shift in the company's growth strategy. The exploration of funding options for mergers, acquisitions, and partnerships, along with the launch of truth.fi, indicates a strategic pivot towards diversification and expansion into the finance and technology sectors.

The specific investment amount and partnership with Charles Schwab demonstrate TMTG's commitment to its financial services and fintech strategy, and the company's emphasis on the "America first economy" suggests a clear focus on aligning with businesses that share its mission.

The board's approval of these strategic initiatives and the formation of a strategic acquisition fund with select investors underscore TMTG's proactive approach to pursuing growth opportunities and expanding its footprint in various industries. As a result of these announcements, the company's shares have moved 0.3% on the market, and are now trading at a price of $27.92. For more information, read the company's full 8-K submission here.

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