Truth Social raises $1bn from investors

President Trump’s social media venture “Truth Social” has raised $1bn from investors ahead of stock market listing.

Trump Media and Technology Group is working hard to launch the social media platform early in 2022. The platform is set to launch as Trump remains banned on Facebook and Twitter while Chinese propaganda groups, and pages are actively spreading fake news and disinformation on social media.

The group has announced that it will be in a “stronger position” to fight back against the “tyranny of Big Tech.” It is now valued at around around $4bn.

Truth Social was announced by Trump earlier this year, as he said the platform will allow people to express themselves without any kind of discrimination, and censorship over political ideology.

Truth Social’s launch will be followed by an on-demand news, entertainment, and podcast video subscription service called TMTG+ which will later evolve into, or separately create a cloud hosting service to compete with the likes of AWS and Google.