Who Owns Dwac has all the information related to Donald Trump’s new initiative in social media business and how he plans to take on present companies.
The established social media platform will face a big challenge in the coming days from a man they banned from their space earlier this year. But, Donald Trump is a man you can’t keep quiet for a long time, and the former United States president is back to changing the dynamics of the social media industry in the coming days.
Truth is the social media platform that Trump intends to launch with DWAC. Trump TMTG and DWAC have signed a merger agreement to form a new entity, but Who Owns Dwac, to know read this article.
Donald Trump Social Media platform Truth:
The Wednesday announcement by Trump Media and Technology Group will have repercussions, changing the social media space forever. In Trump’s words, it is “stand up to the tyranny of Big Tech,” though most of us felt the same way; the former president is just giving voice to it.
The days of selective media are losing relevance, and the voice of every individual is important and should be heard. The Afghanistan fiasco of the present dispensation has already garnered a lot of support for Trump. The soaring share price of DWAC is an indication of support to Truth social media.
Who Owns Dwac?
The share of Dwac increased by more than 350 percent point, and for some time, it also crossed the 400 mark to reach $ 52 per share. Dwac is a special purpose acquisition company, also known as blank check or shell company, created for mergers, stock purchase, or asset acquisition.
The current CEO of Dwac is Patrick Orlando, and Luis Orleans-Braganza works as chief financial officer of the company. Lee Jacobson is Director of Dwac, and it was founded in the year 2020, with the initial Public Offer coming on 3rd September 2021.
As far as the shareholding pattern is concerned, according to Who Owns Dwac finding 15 percent of its share is held by Patrick Orlando. At the same time, Lighthouse Investments, Highbridge Capital, and D.E. Shaw are Hedge Fund managers of this company.
What is SPAC and How Media is questioning Patrick Orlando?
SPAC are shell companies whose sole aim is to collaborate with the companies which want to go public; they are listed on the stock exchange for this purpose and try to find their partner in the rising sector. They list their company on exchange and find an investor in return for a share in given SPAC.
Patrick Orlando, Who Owns Dwac and some other shell companies whose office is headquartered in Wuhan, is this credential of Orlando that the media is questioning as everyone is aware of Donald Trump’s stand on China and coronavirus.
It is common for the shell company owner to have three to four companies listed in different stock exchanges under him.
TMTG’s intentions are clear, and in its press release, they have clearly said that they oppose the Big Tech media houses of Silicon Valley’s effort to silence the opposing voices in the country.
According to Who Owns Dwac, citizens are for an exciting time ahead as they can get a new social media platform to put on their views without being banned.
Social media users can share their thought about the new upcoming social media platform Truth social in the comment section below.