PALM BEACH, Fla. — Former President Donald Trump is launching his own social media platform.
The platform — called Truth Social — will have a public launch in 2022 and looks to offer an alternative to Facebook, Twitter and Google-owned YouTube.
Facebook and Twitter banned Trump after the Jan. 6 storming of the U.S. Capitol.
Trump said Truth Social will offer an alternative to the large social media platforms who have been restricting more content and banning dissenting and controversial voices — especially from the political right.
Truth Social is being developed via a deal between Trump Media and Technology Group and Miami-based Digital World Acquisition Group.
DWAG is a “blank check company” that helps with mergers, stock and investment deals and asset acquisitions. Blank check firms can also offer alternative financing paths instead of traditional initial public offerings (IPOs). Digital World will seed Trump’s Truth Social platform with $239 million, according to an announcement Wednesday.
Truth Social will be based at Mar-A-Lago — Trump’s resort in Palm Beach.
Digital World's CEO is Patrick Orlando. He has been involved with a number of other investment and finance firms — including others involved in shell corporations.
Digital World’s CFO is Luis Orleans-Braganza, who also serves in Brazil’s National Congress and founded Zap-Tech Corp. He also had executive tenures with JP Morgan Chase and America Online (AOL). He is also part of the family line of the last emperor of Brazil.
Social media was key to Trump's political rise as well as the many controversies that allowed the former president to dominate political and cultural discourse.