President Donald Trump’s social media startup plans to merge with fusion company TAE Technologies in a deal valued at more than $6 billion.
The all-stock transaction marks the latest twist surrounding Trump Media & Technology Group, the publicly traded parent company of Truth Social that has become a new pillar in Trump’s business empire over the last two years. Trump is the largest shareholder in the company, owning more than 114 million shares that were, as of Wednesday’s closing price, worth about $1.2 billion.
Shareholders in Trump Media and TAE Technologies will own about 50 percent of the combined company on a fully diluted equity basis, the companies said Thursday. Trump Media’s stock, which trades under the ticker “DJT”, popped on the news — rising more than 20 percent shortly after.
In merging with TAE Technologies, Trump Media is venturing into new territory once again. The company’s business has to date primarily revolved around advertising revenues generated through Truth Social, its prized asset. But Trump Media has recently branched out into other areas like the cryptocurrency markets and streaming. Still, the company has recorded several straight quarters of net losses, the latest of which came in at $54.8 million for the three months ended Sept. 30.
Trump Media and TAE Technologies said in a statement that their merger will create “one of the world’s first publicly traded fusion companies.” They plan to begin work on building “the world’s first utility-scale fusion power plant” in 2026, according to the statement.
“Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations,” Trump Media CEO Devin Nunes said. “Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s — an innovation that will lower energy prices, boost supply, ensure America’s A.I.-supremacy, revive our manufacturing base and bolster national defense.”
Nunes will lead the joint company alongside TAE CEO Michl Binderbauer as co-CEOs, though the former Republican congressmember will still “lead all Trump Media brand operations,” the companies said. Nunes and Donald Trump Jr., who sits on Trump Media’s board and oversees the trust that holds his father’s shares in the company, will serve on the combined company’s board.
The companies expect the deal to close in 2026, pending the necessary shareholder and regulatory approvals.
