Donald Trump announced on Wednesday night that he will be launching his own social media network, Truth social
Former President Donald Trump has announced that he plans to launch his own social media platform called Truth Social now that he has been banned from other popular social media sites.
Trump was banned from the biggest social media platforms – Twitter, Facebook and YouTube – after his supporters stormed the Capitol during the Jan. 6 riot over concerns that his presence on social media would incite more violence. YouTube said its ban would be lifted after the “risk of violence” decreases, Facebook said Trump could come back to the platform at the soonest in 2023, and Twitter said its ban would be permanent.
TRUTH Social is being formed through a merger of a new company set up by Trump, the Trump Media & Technology Group, and a special purpose acquisition company, a.k.a. a SPAC. SPACs, which are all the rage these days for reasons that will soon become clear, are shell companies that are listed on exchanges like the NYSE or the Nasdaq and exist for the one and only purpose of merging with companies that want to go public—like the Trump Media & Technology Group.
Mr Trump’s announcement comes months after his former aide Jason Miller launched another social media company called GETTR.
