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Opinion
Timothy L. O'Brien

Who Just Gave Trump $1 Billion? Let’s Find Out.

Investments in a blank-check company backing the former president could turn out to be IOUs if he wins back the White House.

Trump Media and Truth Social have already unfurled some red flags.

Trump Media and Truth Social have already unfurled some red flags.

Photographer: Chris Delmas/AFP/Getty Images

Updated on

Donald Trump’s new social media enterprise announced on Saturday that the blank-check company it set up to monetize the former president’s digital and political mojo has raised $1 billion — without identifying the members of the “diverse group of institutional investors” backing him.

Trump, a disinformation kingpin exiled from mainstream social media platforms, has positioned his gossamer startup, Truth Social, as a vehicle for battling “censorship and political discrimination” and the “tyranny of Big Tech.” It’s also a convenient way for Trump to continue his life’s work: separating investors and fans from their wallets by pitching promises that he routinely fails to keep.