Topline
President Donald Trump’s media company has abandoned plans to spin off the Truth Social platform as a separate, publicly traded business, the company announced on Wednesday, as it plans to complete a $6 billion merger with TAE Technologies “as soon as possible.”
A merger between Trump Media and a fusion energy firm is expected “as soon as possible.”
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Key Facts
Trump Media & Technology Group, the fusion firm TAE Technologies and the special-purpose acquisition company Texas Ventures III disclosed they would no longer pursue a spin-off of Truth Social or other Trump Media assets “after further evaluation,” though they did not provide a reason for abandoning the idea.
Truth Social would have merged with Texas Ventures III after Trump Media merged with TAE Technologies, after which shares of the spun-off company would have been distributed to shareholders before the transaction closed, the companies announced in February.
Trump Media and TAE Technologies said they plan to close their merger “as soon as possible,” with a goal of closing by Q4 2026 “or sooner.”
Shares of Trump Media dropped slightly (0.3%) shortly after trading opened on Wednesday, extending losses for the stock that has plunged by nearly 41% so far this year.
big number
$2.2 billion. That’s Trump Media’s market value as of Wednesday, a nearly 75% slide from its all-time high of roughly $8.7 billion in January 2025.
forbes valuation
Trump has a net worth of $6.1 billion, ranking the president as the 665th-richest person in the world, according to Forbes’ estimates. He holds a 52% stake in Trump Media, totaling some 114.7 million shares worth about $932.5 million as of Wednesday’s share price.
key background
Trump Media and TAE Technologies announced in December they would merge in a deal valued at $6 billion, after which the Truth Social parent said it would build the “world’s first utility-scale fusion power plant” that could generate 50 megawatts of electricity. The Trump-owned firm went public in March 2024 through a reverse merger with Digital World Acquisition Corp., and trading in the stock has been frequently volatile. Trump Media has expanded to cryptocurrency, announcing last year it would launch Truth.Fi, a financial services brand, with other plans to enter the prediction markets business. Those plans included allowing users to bet on events like political elections and inflation-rate changes in a partnership with Crypto.com.